Download - 2011 IEEE AnnuAl REpoRt

Excellence

Collaboration

Innovation

Global Influence

Humanity

Sustainability

Communication

Solutions

Leadership

Advancement

Interdisciplinary

Technology

Research

Development

One Voice

2011 IEEE AnnuAl REpoRt Innovative Solutions Through Global Collaboration

While the world benefits from what is new, IEEE is focused on what is next.

tABlE of ContEntS

Features

life Sciences

Education

Student Showcase

pursuing tomorrow’s Solutions

Young Women Introduced to Engineering

Students provide Remote Healthcare Solution

IEEE Annual Report

07Serving Society

Serving Members

Who We Are

products & Services

Awards & Honors

Financials

12

20

32

0925374561

IEEE portal launches as the premier

global resource for life science

technologies, information, and activities.

Mothers, daughters, and their teachers

were inspired to consider careers

in technology through robotics and

engineering workshops.

Brazil team named IEEE Student

Humanitarian Supreme with real-time

e-health solution.

IEEE fulfilled its mission of advancing technology for

humanity throughout 2011.

IEEE surpasses 415,000 members and continues to

expand globally.

A global overview of who we are.

IEEE expands its role as leading source of high-quality

technical publications and conferences.

IEEE pays tribute to technologists whose achievements

have made a lasting impact on humanity.

An overview of IEEE 2011 financials.

2011 Highlights

January

February

March

April

May

June

> EngineeringforChange.org debuted with the launch of an online platform designed

to enable technical professionals to collaborate on solutions for humanitarian and

developmental challenges.

> Interactive IEEE exhibit opened at B.M. Birla Science Centre in Hyderabad, India.

> Three IEEE Milestones in Electrical Engineering and Computing dedicated–First

Mercury Spacecraft, SPICE Circuit Simulation Program, Eel River High

Voltage Direct Current Converter Station.

> Leaders of the Indian technology sector participated in IEEE Industry Day, a two-

day summit aimed at encouraging collaboration on humanitarian and technical

projects. The event was held in Bangalore, India.

> IEEE was named one of the Best Places to Work in New Jersey by NJBIZ, a weekly

New Jersey business journal.

> The IEEE Cloud Computing Initiative is launched. It is designed to serve as a

catalyst for innovation in cloud computing with a focus on interoperability.

> IEEE launched the IEEE Life Sciences Web portal to further its commitment to

promoting engineering’s role in cross-disciplinary solutions in life sciences.

> IEEE and the Sirona Cares Foundation, with financial support from the IEEE

Foundation, deployed battery-charging stations that supplied electricity to six

regions of Haiti.

2011 IEEE Annual Report | 2011 Highlights | 3

July

August

September

october

november

December

> IEEE Signal Processing Magazine® was named the number one journal in the

category of Electrical and Electronic Engineering by Thomson Reuters’ Journal

Citation Reports.

> IEEE Xplore® digital library reached 3 million documents.

> 1,100+ volunteer leaders gather in San Francisco, Calif., for IEEE Sections Congress.

> IEEE and the Korean Agency for Technology and Standards (KATS) signed a

Memorandum of Understanding to work cooperatively on standards

development and distribution.

> Attendees from 30 countries traveled to Beijing, China, for the second annual

Smart Grid World Forum.

> IEEE Insights blog debuted on Forbes.com.

> More than 160 events worldwide commemorated IEEE Day.

> IEEE Spectrum® published a special report on “Fukushima and the Future of

Nuclear Power,” including a detailed account of the worst nuclear disaster since

Chernobyl. The multimedia report won the 2011 Jesse H. Neal Award for Best

News Coverage.

> IEEE and the Royal Society of Edinburgh signed a Memorandum of Understanding

outlining future collaboration opportunities, including a project in life sciences.

> IEEE membership exceeded 415,000 with approximately 50 percent of all

members residing outside of North America.

Messages from the IEEE presidentand the Executive DirectorIEEE entered 2011 as a strong and vigorous association, with more than 400,000

members around the world. We serve society and the profession energetically

and indefatigably in several key technical and social areas. Among them are

dissemination of knowledge in key technologies, development and distribution

of major standards, and technical education. We give voice to the engineering,

computing, and technology professions. We promote civic duty and engagement

of professionals in improving human welfare and expanding educational

opportunities. We help protect the environment. We convene major educational

and planning forums worldwide. These forums connect and invigorate decision

makers, innovators, inventors, developers, practitioners, students, and educators.

From this position of influence and professional authority, we strive to guarantee

IEEE’s future leadership role in all major fields of technology and key emerging

areas. In 2011, we launched new initiatives at the intersection of electrical

engineering, computer engineering, computer science, and the life sciences.

We intensified our already-growing activities in all aspects of energy generation,

development, and use—promoting and facilitating new ideas on sustainability,

green energy, smart grids, and new energy sources. We instigated new initiatives

on cloud computing and smart vehicles. Groups within IEEE put effort and

collaborative thinking into new and emerging (or re-emerging) areas ranging

from quantum communications to wireless transmission of electricity and from

personalized medicine to crowdsourcing. Never have the three-million-document

archives of IEEE–our journals, transactions, conference proceedings, standards, and

online courses–been so comprehensive, accessible, exciting, and useful. Never

have the legions of IEEE volunteers who support them—the authors, reviewers,

editors, and developers of standards—been more involved, enthusiastic,

and productive.

2011 was also a year of increased engagement of our members in the societal

betterment of their communities. Our activities ranged from field projects in Haiti,

India, Ghana, Uganda, Zimbabwe, Nicaragua, and Bangladesh to well-attended

conferences with decision makers in major capital cities. We developed cooperative

efforts with governments, United Nations agencies, and not-for-profit organizations

from Philadelphia to Pretoria to Bangalore to Dubai. No less important, we have

started an organizational effort to systematize and support these societally focused

activities with proper budgeting and permanent organizational structure. As part

of our community outreach efforts, in 2011 we have forayed into museums of

2011 IEEE Annual Report | Message from the IEEE president and the Executive Director | 5

Moshe Kam

2011 IEEE Presidentand CEO

E. James Prendergast

IEEE Executive Director and COO

technology that serve large populations of pre-university students. We completed

two large pilot museum projects in Montevideo, Uruguay, and Hyderabad, India,

where IEEE volunteers created and installed new state-of-the-art exhibits for young

visitors. These exhibits demonstrated the potential, usefulness, and beauty of

new and emerging technologies. In addition to the benefit that the new displays

provided to student audiences, they also fostered cooperation among volunteers

from multiple countries and continents. Collaborative design and implementation

of museum shows energized our volunteers and strengthened ties between

members from different parts of the world.

In 2011, we continued our quest to make IEEE a major resource for members

in their professional activities and career development. Our efforts include new

continuing education opportunities, new subscription models in developing

countries, and improved access to IEEE publication resources by all users. We

developed better portals and user interfaces, conducted usability studies of existing

assets, and adopted state-of-the-art support infrastructure. This is a never-ending

improvement campaign in the service of our members and customers.

Finally, we continued to highlight past achievements of our community, honor

leaders of our profession, and mark historical milestones. Among the individuals

we recognized with major honors in 2011 were Morris Chang, Marcian Hoff, Ingrid

Daubechies, and APJ Abdul Kalam. 2011 Milestones in Electrical Engineering and

Computing commemorated the innovations of Thomas Alva Edison, Guglielmo

Marconi, and Heike Kamerlingh Onnes. We also paid tribute to the engineers who

developed the Mercury Spacecraft MA-6, the first broadcast satellite service, and

the Apollo Guidance computer. Recognizing these discoveries, breakthroughs,

and intellectual giants is done with the conviction that, as it has in its first 127

years, IEEE will continue to be the professional home of the brightest minds in

technology–the Edisons, Marconis, Popovs, Kilbys, and Hoffs of the future.

Sincerely,

Who We Are

IEEE Society Memberships

5,123 IEEE Aerospace and Electronic

Systems Society

8,450 IEEE Antennas and Propagation Society

2,063 IEEE Broadcast Technology Society

71,895 IEEE Computer Society

10,311 IEEE Circuits and Systems Society

7,199 IEEE Computational Intelligence Society

51,155 IEEE Communications Society

2,723 IEEE Components, Packaging,

and Manufacturing Technology Society

3,453 IEEE Consumer Electronics Society

9,340 IEEE Control Systems Society

2,241 IEEE Dielectrics and Electrical

Insulation Society

3,547 IEEE Education Society

4,172 IEEE Electromagnetic

Compatibility Society

10,929 IEEE Electron Devices Society

9,378 IEEE Engineering in Medicine

and Biology Society

3,519 IEEE Geoscience and Remote

Sensing Society

5,667 IEEE Industrial Electronics Society

10,184 IEEE Industry Applications Society

3,623 IEEE Information Theory Society

4,450 IEEE Instrumentation and

Measurement Society

1,219 IEEE Intelligent Transportation

Systems Society

3,158 IEEE Magnetics Society

12,129 IEEE Microwave Theory and

Techniques Society

3,268 IEEE Nuclear and Plasma

Sciences Society

1,927 IEEE Oceanic Engineering Society

6,603 IEEE Photonics Society

29,410 IEEE Power & Energy Society

7,634 IEEE Power Electronics Society

1,158 IEEE Professional

Communication Society

892 IEEE Product Safety Engineering Society

9,627 IEEE Robotics and Automation Society

1,964 IEEE Reliability Society

16,371 IEEE Signal Processing Society

1,737 IEEE Society on Social Implications

of Technology

10,081 IEEE Solid-State Circuits Society

4,955 IEEE Systems, Man, and

Cybernetics Society

2,222 IEEE Ultrasonics, Ferroelectrics,

and Frequency Control Society

4,583 IEEE Vehicular Technology Society

Total: 348,360 IEEE society members*

*Total number of IEEE society memberships includes affiliates who are not IEEE members.

4.1%Canada 49.8%

united States

18.3%Europe

Middle EastAfrica

23.4%India China

pacific Rim

4.4%latin America

2011 IEEE Annual Report | Who We Are | 7

Age of Members

0<30 30–39 40–49 50–59 60–69 >70

20

40%

Age

23.8% 20.4%19.0%

11.0%7.4%

18.3%

60

80

Gender

0

89.3%

10.7%

%

Gender

Male Female

50

100

Members in Global Workforce

0Industry Academia Gov’t Self Employed Retired Unemployed Other

25

% 39.7%34.3%

7.8% 5.9% 5.9%4.3% 2.1%

50

75

100

Membership Status

> Total Membership 415,989

> Honorary Members

67,917

6,692

33,749

251,842

15,862

39,895

32

> Members

> Senior Members

> Graduate School Members

> Student Members

> Fellows

> Associate Members

092011 IEEE Annual Report | Serving Society | 9

Serving Society

Around the world, IEEE and its members led

projects that improved the quality of life in

emerging economies through the application

of new and existing technologies.

IEEE fulfilled its mission of

advancing technology for

humanity throughout 2011.

IEEE Expands Around the Globe

IEEE: A Leader of Smart Grid Initiatives

As an organization with global reach and partnerships, IEEE continued

to be a driving force in the movement to help nations achieve energy

independence, a sustainable environment, and economic growth through

the development of smart grid.

Leading the way was the IEEE Standards Association (IEEE-SA), which has

developed nearly 100 standards relevant to smart grid, including IEEE

2030™, the first cross-discipline guideline for smart grid interoperability

for the power engineering, communications, and information technology

industries. In 2011, IEEE-SA launched the first long-term project on

communications, which will explore smart grid beyond IEEE 2030.

New collaborations bring numerous initiatives and solutions.

IEEE experienced exceptional global growth in 2011, opening

doors to new market opportunities, advancing product innovation,

and expanding IEEE programs to address local community needs.

IEEE also formed new international partnerships with leading

organizations to advance its position as a global catalyst for people

who discover, develop, and deliver technology solutions.

On the Web, at conferences, and on the ground, IEEE made

an impact and increased its visibility in some of today’s

fastest-growing technology fields.

Also in 2011, research groups were created to review

power magnetic (solid-state transformers), wireless

charging of electric vehicles, nano and molecular

communications, and non-crashing vehicles.

Their efforts will spur groundbreaking standardization

and drive the future of electric power generation

and distribution.

The IEEE Smart Grid™ Web portal grew significantly

in 2011, providing expanded knowledge and tools to

guide the understanding of smart grid challenges across

industries and disciplines. During the year, more than

480,000 pages of information were viewed by visitors

from more than 190 countries. The monthly IEEE Smart

Grid Newsletter, available on the portal, offers exclusive

content and sharp insight from experts actively involved

in the development and deployment of smart grid

around the world.

Technologists Share Smart Grid Progress

The second annual Smart Grid World Forum was held

in Beijing, China, in September 2011, attracting more

than 400 attendees from 30 countries. Co-sponsored

by IEEE and State Grid Corporation of China, the two-

day event created a high-level platform for power

sectors from around the world to exchange and share

their progress and experiences in smart grid research

and construction. The theme “Strong and Smart Grid —

The Driving Force for Energy Development in the 21st

Century,” guided delegations on a realistic and impartial

assessment of the current state-of-the-art developments

in smart grids.

The second annual Smart Grid World Forum sponsored by State Grid Corporation of China in partnership with IEEE

created a unique opportunity for collaboration among industry executives, leaders in the academic and research

community, policy makers, and government officials as they contribute to the evolution of Smart Grid.


IEEE Life Sciences: Pursuing

Tomorrow’s Solutions

In February 2011, the IEEE Board of

Directors committed to establishing

IEEE as a leader in the field of life

sciences. Three primary goals were

set: coordinate life sciences activities

across IEEE, raise IEEE’s public

profile in the field, and boost

IEEE membership in the life

sciences community.

To support these goals, the IEEE Life

Sciences Web portal was launched in

June 2011. The portal is positioned

as the premier global resource for life

science technologies, information,

and activities, as well as a forum for

cross-disciplinary collaboration and

problem solving.

During the year, 30 IEEE societies,

councils, and committees launched

programs to engage the life sciences

community. One hundred events

dedicated to life sciences were held,

including the 2011 International

Conference of the IEEE Engineering

in Medicine and Biology Society in

Boston, Mass.

In November, IEEE and the Royal

Society of Edinburgh signed a

Memorandum of Understanding

outlining future collaboration

opportunities in life sciences.

IEEE is committed to the evolution of cloud computing.

In 2011, the IEEE Cloud Computing Initiative was

launched to inform and inspire innovation in the field.

It was the first broad-scope, forward-looking campaign

focused on the cloud to be put forth by a global

standards development organization.

Two new standards development projects were

approved: IEEE P2301™, Draft Guide for Cloud

Portability and Interoperability Profiles, and

IEEE P2302™, Draft Standard for Intercloud

Interoperability and Federation. They are designed to

help users develop and build standards-based cloud

computing products and outline the governance

required to ensure interoperability across the industry.

IEEE extended its leadership in the cloud computing

field by organizing two successful seminars: the IEEE

System of Systems Engineering Conference in New

Mexico and IEEE Cloud 2011: The 4th International

Conference on Cloud Computing in Washington, D.C.

IEEE Cloud Computing Initiative: Rising to the Challenge


IEEE showed its commitment to cloud computing through the development of standards

and seminars as well as providing a voice for the technology in the media.

outreach & Development

Students Work Together to Deliver Community Solutions

Engineering Projects in Community Service in IEEE (EPICS in IEEE),

an on-the-ground program that connects IEEE student branches and

secondary school students with nonprofit organizations, grew substantially

in 2011. Working through EPICS in IEEE, students are able to provide

their communities with much-needed solutions and hope for a

self-sustaining future.

EPICS in IEEE focuses on 4 key categories:

2011 saw 26 projects initiated in 11 countries, including Argentina,

Belgium, India, South Africa, and the U.S.

IEEE’s focus on local programs brings needed solutions

to individuals and communities.

IEEE expanded activities aimed at helping underserved populations

in 2011. These initiatives built partnerships that leveraged IEEE’s

expertise and global reach and addressed IEEE’s commitment to

advancing technology for humanity.

> Access and Abilities

> The Environment

> Education and Outreach

> Human Services

IEEE student members at

Kyambogo University in Uganda

work with local students to design

and build a solar-powered phone

charger for low-income and

marginalized mass communities.

Through this project, students will

learn the importance of renewable

and alternate forms of energy.


Creating Opportunities for Global Collaborations

Engineering for Change (E4C) was launched early in 2011 as a collaboration

among IEEE, the American Society of Mechanical Engineers (ASME), and

Engineers Without Borders USA. E4C’s active Web presence provides a

forum for a growing community of engineers, technologists, social scientists,

non-governmental organizations, local governments, and community

advocates dedicated to improving quality of life to work together, meet

challenges, solve problems, and share knowledge. At the end of its first

year, E4C had nearly 10,000 active members in over 160 countries.

Bringing Electricity to Rural Haiti

In 2011, the IEEE/Sirona Haiti Rural Electric Project, launched by the IEEE

Community Solutions Initiative (CSI), began deployment of six SunBlazer

solar-based battery-charging stations that supplied electricity to six regions

of Haiti. The initial objectives were to demonstrate the viability of the

technology and build a project model that pays for itself. The success of

this first phase brought much-needed power to many Haitian villages.

The IEEE CSI, a volunteer group of the IEEE Power & Energy Society, is

committed to the open-source design and delivery of energy solutions

to power-deprived populations. Its work in Haiti is supported by an IEEE

Foundation grant funded by IEEE member donations.

IEEE Sections Working Together Across the World

The IEEE Uruguay Section’s successful 2010 opening of E-Scientia, an

interactive exhibit for pre-university students at the Espacio Ciencia museum

in Montevideo, spurred a collaborative effort to expand this project to other

continents in 2011. The IEEE Uruguay Section helped the Hyderabad

Section create a 5,000-square-foot interactive museum at the B.M. Birla

Science Centre in Hyderabad, India. Made possible through a collaborative

effort among IEEE section volunteers, science center staff, local industry,

and pre-university teachers, the B.M. Birla Science Centre features a series

of hands-on exhibits that demonstrate the fundamentals and applications

of electrical and computer engineering. The impact of this effort was

immediately visible: the museum is now visited by at least 1,000

students per week.

IEEE-USA works to build the careers

of engineers and shape public

policy. In 2011, it formally opened

conversations with U.S. government

officials to develop new avenues for

IEEE members to take advantage of

programs that promote growing

high-tech businesses.

IEEE-USA arranged a meeting

between federal agencies

responsible for promoting small

business and entrepreneurship in

the fast-changing tech sector, laying

an important foundation for future

collaborations between the agencies

and small business owners.


2011 IEEE President Moshe Kam joined volunteers from the IEEE Hyderabad Section,

local teachers, and students for a ribbon cutting ceremony commemorating the

opening of an interactive museum at the B.M. Birla Science Centre.

IEEE-USA Working Hand-in-Hand with U.S. Government Officials

IEEE Standards Association Marks 2011 with Innovative product offerings and Global Agreements

Meeting the Needs of Standards Users

In 2011, the work of IEEE-SA drove the functionality, capabilities, and

interoperability of a wide range of products and services that transform

the way people live, work, and communicate.

IEEE-SA launched a series of innovative products that respond to industry

needs. The new IEEE Redline Versions of Standards provide a quick and

easy way to compare changes between an active IEEE standard and its

previous version. IEEE-SA also published the 2012 National Electrical Safety

Code® (NESC®), which sets the ground rules for the safeguarding of persons

during the installation, operation, or maintenance of electric supply and

communication lines and associated equipment. IEEE-SA also extended its

entry into mobile applications with the development and availability of the

Android version of the IEEE Standards Wireless Dictionary.

In addition to its highly visible contributions to smart

grid and cloud computing standards and research in 2011,

IEEE-SA worked to broaden the international understanding

of the IEEE standards development process.

IEEE-SA Advances Global Initiatives

In India, IEEE-SA engaged with individuals and industry through the IEEE

India Standards Interest Group. In China, ongoing outreach and relationship

building resulted in the renewal of agreements with two key standardization

players in China, the China Electronics Standardization Institute (CESI) and

China National Institute for Standardization (CNIS).

Significant progress was also achieved with Korea’s national standards

body, the Korean Agency for Technology and Standards (KATS), with the

signing of a general cooperation agreement. Smart grid relationships

were strengthened by a significant IEEE-SA presence at an international

conference hosted by the Korea Electric Association, and by the signing of

an agreement with the Korean Society of Automotive Engineers (KSAE).


IEEE focuses on delivering information for the researcher and the practitioner. IEEE Standards

connect implementation of groundbreaking research in areas such as cloud computing, smart

grid, and electrical safety to the hands-on developers and technology professionals.

IEEE Continues to Advance Engineering

IEEE Honor Society: First Chapters Established Outside U.S.

IEEE-Eta Kappa Nu (IEEE-HKN) is the official honor society of IEEE. It is

composed of nearly 200 university chapters that recognize scholarship and

academic excellence in student leaders, young professionals, and eminent

scholars in IEEE’s technical fields of interest. Since its founding, nearly

100,000 distinguished individuals have been inducted into IEEE-HKN.

In 2011, IEEE-HKN established its first three chapters outside the U.S. in

China, India, and Canada.

Young Women Introduced to Engineering

IEEE remains committed to closing the existing gender gap between the

amount of male and female engineers in the workforce. Sponsored by the

IEEE Control Systems Society and co-sponsored by the California Space

Grant Consortium and Columbia Memorial Space Center, the “My Daughter

is an Engineer” program brought mothers, daughters, and their teachers

together for a three-day summer residential program. The activities were

developed by the Mechanical and Aerospace Engineering Department in

collaboration with the College of Engineering of California State University,

Long Beach. The program was designed to inspire young girls to consider

careers in technology by introducing them to robotics and controls via

hands-on, engineering-based workshops.

Programs promote technology education around the world.

IEEE educational activities benefitted a wide range of people

at every stage of their educational and professional lives.

The “My Daughter is an Engineer”

program was held for the first

time at the California Space Grant

Consortium in July 2011. The IEEE

Control Systems Society was one

of the program sponsors where

mother-and-daughter teams learned

about different engineering careers.


IEEE Milestones

Other IEEE Milestones dedicated in 2011 include:

In 2011, IEEE dedicated 10 IEEE Milestones in Electrical

Engineering and Computing.

Each year, the IEEE Milestones in Electrical Engineering and

Computing program recognizes significant technical achievements

that occurred at least 25 years ago in fields of technology

associated with IEEE. More than 100 IEEE Milestones have been

dedicated to date. All the milestones are described in detail at the

IEEE Global History Network Web site, www.ieeeghn.org.

> Edison’s Pearl Street Generating Station, 1882 (New York, N.Y.)

> SPICE Circuit Simulation Program, 1971 (Berkeley, Calif.)

> Eel River High Voltage Direct Current Converter Station, 1972 (New Brunswick, Canada)

> Grumman Lunar Module, 1962-1972 (Bethpage, N.Y.)

Marconi’s First Wireless Experiments

1894-1895 (Pontecchio, Italy)

Marconi began experimenting in 1894 in the attic of his family home. Marconi connected a grounded antenna to a transmitter, and with this apparatus transmitted radiotelegraphic signals over a physical obstacle, the Celestini Hill, at a distance of two kilometers. The successful experiment marked the birth of wireless communication.

Mercury Spacecraft, 1962 (St. Louis, Mo.)

Engineers at McDonnell Douglas Aircraft (later a Boeing heritage company) provided a huge boost to the U.S. space program by developing, designing, and building the Mercury spacecraft. The first U.S. manned space vehicle was equipped with electrical systems that would evolve in future U.S. space flights.

First Satellite Broadcast to the Public, 1984 (Tokyo, Japan)

The R&D team of NHK, Japan’s public broadcasting organization, developed the technology used in the world’s first direct-broadcast satellite service—which laid the groundwork for today’s satellite television. The broadcast took place at NHK Science and Technology Research Laboratories.

First Real-Time Speech Communication on Packet Networks, 1974-1982 (Lexington, Mass.) In 1974, the first real-time speech communication over a packet-switched network was demonstrated via ARPANET at MIT Lincoln Laboratory. By 1982, these technologies enabled Internet packet speech and conferencing on terrestrial, packet radio, and satellite networks.

Discovery of Superconductivity, 1911 (Leiden, Netherlands)

In April 1911, Professor Heike Kamerlingh Onnes and his collaborators, Cornelis Dorsman, Gerrit Jan Flim, and Gilles Holst discovered superconductivity by observing that the resistance of mercury approached “practically zero” when its temperature was lowered to three kelvins.

Apollo Guidance Computer, 1962-1972 (Cambridge, Mass.)

The Apollo Guidance Computer provided spacecraft guidance, navigation, and control during all of NASA’s Apollo Moon missions. It was developed under the leadership of Dr. Charles Stark Draper at the Massachusetts Institute of Technology Instrumentation Lab, now Draper Laboratory.


2011 IEEE Annual Report | Serving Members | 25

25Serving Members

IEEE membership expanded around the world

in 2011, as membership development efforts

succeeded in maintaining the strong growth

seen over the last decade. IEEE now has more

than 415,000 members, who are supported

by the organization with resources to help them

in their work and to reach their career goals.

IEEE surpasses 415,000 members

and continues to expand globally.

IEEE Celebrates Spirit of Cooperation

A Global Assembly of Leaders

More than 1,100 IEEE volunteers traveled to San Francisco, Calif., to take

part in IEEE Sections Congress 2011 (SC2011), the latest edition

of the highly lauded triennial leadership workshop.

IEEE SC2011 was the largest gathering to date, welcoming delegates

from 92 countries, 294 IEEE sections, and 41 IEEE technical societies

and councils. The IEEE SC2011 program, themed “Empowering Members

to Create the Future,” offered IEEE leaders the opportunity to share

experiences and knowledge with one another and learn more about the

many resources available to members. The program included over 30

breakout sessions featuring more than 80 speakers, as well as exhibits

in which IEEE employees provided information about new programs and

materials to help IEEE volunteers in their local efforts.

IEEE events in 2011 excited and inspired members across the globe.

In the office, in the field, on the Internet, and in person,

IEEE encourages communication and collaboration. Two

events in 2011 demonstrated the organization’s commitment

to these goals.

Empowering Members to Create the Future

IEEE members displayed their pride in IEEE on 6 October 2011, during

the second annual IEEE Day, a global commemoration of the first time

that the soon-to-be founders of IEEE gathered in 1884.

More than 160 IEEE Day events took place in over 50 countries. Activities

included educational forums, robotics competitions, visits to high schools,

and public seminars–all encouraging professionals and students to

pursue new opportunities in engineering and other technical fields.

Through Web sites, Facebook, Twitter, and other social media channels,

the worldwide membership of IEEE came together virtually and in person

to share knowledge and recognize historic milestones in engineering.


IEEE Life Fellow Raj Mittra (second from r.), recipient of the 2011 James H. Mulligan, Jr. Education Medal, is

congratulated by (l. to r.) 2011 IEEE President-Elect Gordon Day; Tom Robbins, National Instruments Foundation,

sponsor of the James H. Mulligan, Jr. Education Medal; and Moshe Kam, 2011 IEEE President.

IEEE Member Engagement

Improving Member Communications

To better serve its worldwide membership, IEEE invested in a state-of-the-art

Contact and Support Center in Piscataway, N.J. The center offers enhanced

communications tools, global hours, virtual chat, and an easy-to-navigate

Web site that provides answers to frequently asked questions. During the

year, IEEE Contact and Support Center employees managed over 220,000

member and customer inquiries.

The membership section of the IEEE Web site was also enhanced. The IEEE

Member Global Benefits Finder was developed to help members easily see

what benefits are offered in their region. In addition, the “Get Started with

Your IEEE Membership” page was launched, designed so members can

quickly find resources to make the most of their IEEE membership.

myIEEE, the personalized IEEE member Web portal, added resources for

volunteers such as the new focused desktop and links to IEEE vTools, a

portfolio of Web-based software that enables volunteers to manage local

meetings, run elections, surveys, provide reporting, and more.

IEEE is powered to greater strength by the participation of its members.

Throughout the year, IEEE members elevated and strengthened

the organization, using new and improved resources launched

to support their efforts.

Employees at the new IEEE

Contact and Support Center now

have an updated facility and

communications tools to handle

member and customer requests.


public Visibility Initiative Elevates IEEE Brand Education

“Hot Topic” Storytelling

IEEE member experts appeared in hundreds of articles in top-tier media

outlets in seven countries. Media interest in IEEE was strengthened by the

participation of technical experts in interviews that showcased their talents,

expertise, and viewpoints. Key coverage highlights:

> IEEE Insights, a blog that regularly discusses pressing global issues in the

areas of innovation, education, and technology at Forbes.com.

> IEEE Women in Engineering stories appeared in the U.S., U.K., India,

and China.

> IEEE seminar in Japan on the use of robots in the Fukushima disaster

attracted multiple media mentions.

> IEEE Member viewpoints on cloud computing were featured in

prominent outlets in the U.S., U.K., and Brazil.

> CIO.com featured IEEE mobile predictions in 2012.

> AOL Energy featured IEEE in its story “Nanotechnology Goes Macro.”

In 2011, IEEE focused on sharing IEEE member expertise

with the media.

Throughout the year, the IEEE Public Visibility Initiative continued

its global communications program to elevate IEEE’s visibility, value,

and brand awareness, to position the organization as a thought

leader and source of technology information.

A collaboration with multiple IEEE societies and

organizational units identified and positioned members

as subject matter experts with the media. This led to

a raised visibility of IEEE, engineering, computing,

and technology.

The IEEE Solutionists campaign, “Icons of the Digital

World: Perspectives on Tomorrow’s Solutionists,”

profiled IEEE members who are leaders in the

technology sector. Videos, interviews, and articles

detailed the many significant contributions they made

to society in 2011.

Partnering Across Societies and Organizational Units


IEEE Solutionists are trained and skilled in the art or science of making practical application of the knowledge

of pure sciences to solve a problem. IEEE Solutionists include: (l. to r.) Vint Cerf, IEEE Fellow, Vice President and

Chief Internet Evangelist at Google; Sophie Vandebroek, IEEE Fellow, Chief Technology Officer at Xerox; and

Norm Augustine, Life Fellow & Retired CEO Lockheed Martin, U.S. Human Space Flight Committee.

Students Showcase Their Skills

Power and Energy Scholarships Awarded

Ninety-three electrical engineering undergraduates from 51 U.S.

universities won IEEE Power & Energy Society (PES) Scholarship Plus

awards for the 2011-12 academic year. The goal of the scholarships is

to increase the number of well-qualified, entry-level engineers in the

power and energy industry. The scholarships are distributed through the

IEEE Power & Energy Scholarship Fund and provide up to three years of

financial support. To qualify, students must be U.S. electrical engineering

undergraduates and meet a range of other criteria. Over 700 students

from 107 U.S. universities applied via the scholarship Web site, launched

in April 2011.

Smart Grid Video Addressing Social Media Wins First Place

At the IEEE International Conference on Smart Grid Communications in

Brussels, Belgium, students entered videos as part of the IEEE student

engineering competition for innovating the smart grid. Videos were

made in two categories, explaining innovative smart grid concepts and

showing the benefits of smart grid. Austin Montgomery of the University

of Waterloo, Ontario, Canada, won the Student Video Competition for his

video, “Making the Smart Grid Smarter with Social Media.”

IEEE scholarships and competitions around the world provide students with valuable opportunities to display their technical, leadership, and managerial skills.

Students Provide Solution for Remote Health Care

A team of students from Brazil earned the top prize in the IEEE Presidents’

Change the World Competition for their PoaS@ude Telemedicine Project,

which enables doctors to perform remote prenatal ultrasounds. The project

provides real-time e-health solutions and promotes prevention programs

for people living in remote areas with limited access to medical care. The

Brazil team members received top honors and the title of “IEEE Student

Humanitarian Supreme.”

IEEE Outstanding Paper Award Announced

Postgraduate student Kahesh Dhuness and Professor Sunil Maharaj of

the Department of Electrical, Electronic, and Computer Engineering at the

University of Pretoria in South Africa won the IEEE Outstanding Paper Award

at the IEEE Africon 2011 Conference, where a total of 307 papers were

received and reviewed by 449 peers from around the world. (cont. pg 36)


2011 IEEE President-Elect Gordon Day (l.) and 2011 President Moshe Kam (r.) present Alecio Binotto (c.) from

the Institute of Informatics Brazil with the top prize in the IEEE Presidents’ Change the World Competition.

Binotto accepted the prize on behalf of this team for their PoaS@ude Telemedicine Project.

Christopher N. Larson, a 2011 IEEE Power & Energy Scholarship Plus recipient, with

Eugene Stuffle, Dr. Hossein Mousavinezhad, and Dr. Subbaram Naidu

Their paper, “A Cognitive Radio Application of OM-OFDM

for Implementation in DVB-T2,” proposed using offset

modulation (OM-OFDM) for cognitive radio applications.

IEEE Africon 2011 was themed “Sustainable Energy and

Communications Development for Africa” and held in

Zambia from 13-15 September 2011. It was the largest

in the event’s 10-year history, with over 300 delegates

attending, more than 40 percent of them from

outside Africa.

Student’s Project Deters Car Accidents

Jessica Richeri thought a smarter transportation system

could be a solution to the unsafe, crowded highways

of the future. After three years of work—beginning at

age 14—and 20,000 lines of code, she developed

an autonomous vehicle able to recognize and avoid

obstacles and, hopefully, prevent accidents. Unlike

previous driverless robotic vehicles, Richeri’s car can

adapt to its environment without first knowing the

details of the landscape through which it is traveling.

Richeri’s project, “Autonomous Robotic Vehicle: Saving

Lives, Preventing Accidents One at a Time,” earned her

the 2011 IEEE Presidents’ Scholarship. She has since

graduated from Centennial High School in Corona, Calif.,

and enrolled in the electrical engineering program at

Carnegie Mellon University in Pittsburgh, Pa.

IEEEXtreme Competition Exceeds Expectations

The cuSAT team from Chulalongkorn University, Thailand,

won the Grand Prize in the IEEEXtreme Programming

Competition 5.0. The global competition challenged

teams of IEEE Student Branch members to compete

over a 24-hour span to solve a set of programming

problems. The 2011 event attracted 1,161 student

teams, a 53 percent increase over 2010, and included

a total of 3,183 students from 65 countries and 253

Microsoft Research Asia (MSRA) and IEEE China Operations initiated the “IEEE-MSRA Joint Program” in talent development

in 2011. MSRA paid the student membership fees of its 300 interns in China, enabling them to join IEEE. In a collaborative

exchange, IEEE China Operations personnel arranged for IEEE student branch representatives to visit and tour MSRA.

universities with IEEE student branches. The winners

received an all-expenses paid trip to an IEEE conference

of their choice, anywhere in the world.

Students Compete by Building

High-Performance Race Cars

Dartmouth University’s fifth annual Formula Hybrid

Competition saw 21 teams compete over four days,

with students from Texas A&M University winning first

prize. The competition, sponsored by IEEE and SAE,

was founded by the Thayer School of Engineering at

Dartmouth. It features high-performance hybrid and

electric race cars built by teams of undergraduate and

graduate engineering students. Each day was dedicated

to specific tasks: electrical and mechanical inspection,

acceleration, design and marketing presentation, and

finally a 22 kilometer endurance event with a limited

allotment of energy.


2011 marked the fifth annual Formula Hybrid Competition. Jointly sponsored by IEEE and the Society of

Automotive Engineers (SAE), the Thayer School of Engineering at Dartmouth hosted event features high-performance

hybrid and electric race cars built by teams of undergraduate and graduate engineering students.

2011 IEEE President-Elect Gordon Day and Hong Kong Financial

Secretary John Tsang dot the eyes of a lion to bring it to life at

the Opening Ceremony of the IEEE Technology Time Machine

Symposium that took place in Hong Kong, 1-3 June 2011.

2011 IEEE Annual Report | products & Services | 37

37products & Services

The year brought new partnerships, increased

use of content in the IEEE Xplore® digital

library, and continued leadership in journal and

conference rankings.

IEEE made significant strides

in 2011 to expand its role as

the leading global source of

high-quality and most-trusted

technical publications and

international conferences.

IEEE publications Remain Most Cited

IEEE Journals Cited Three Times More Often

IEEE published seven number one technical journals in the categories of

Electrical and Electronic Engineering, Telecommunications, Automation

and Control Systems, Computer Science (Software, Hardware, and Artificial

Intelligence), and Manufacturing Engineering, according to the 2010

Thomson Reuters Journal Citation Reports (JCR), released June 2011.

IEEE was among nearly 2,500 publishers from 84 countries included in

the JCR report, the largest to date. The JCR, which ranks the frequency of

journal citations in research, also reported that IEEE published 16 of the top

20 journals in electrical and electronic engineering, 8 of the top 10 journals

in telecommunications, and 6 of the top 10 journals in computer science,

hardware, and architecture.

Patents build on earlier scientific findings – and the foundation for patents

comes from scientific literature. 1790 Analytics LLC, a market research firm

specializing in patent analysis and intellectual property, reported that the

leading 25 organizations granted the highest number of patents between

1997 and 2011 cited IEEE journals and conference proceedings three times

more often than any of the other top 20 publishers. The report revealed

that IEEE journals and conference proceedings received over 154,000

IEEE continued to lead in technical journal citations, confirming the value and confidence researchers have in IEEE publications.

patent Citation Chart

0 20000

Association for Computing Machinery (ACM)

IEEE

Reed/Elsevier/Permagon/Academic Press/Saunders

American Institute of Physics (AIP/AVS)

U.S. Department of Energy

International Society of Optical Engineering (SPIE)

Springer/Sprinter Wien/Springer-Verlag

John Wiley & Sons/Wiley-Verlag/Wiley-Liss

American Chemical Society (ACS)

Joint IEEE and ACM

Internet Engineering Task Force (IETF)

Society for Information Display (SID)

Institution of Engineering and Technology (IET/IEE)

International Telecommunication Union

Institution of Electronics, Information and Communication Engineers (IEICE)

3GPP General Partnership Project Standards Body

Optical Society of America

The USENIX Association

Institute of Pure Applied Physics

General Electric Co.

40000 60000 80000 100000 120000 140000 160000 180000

IEEE is cited over 3x more often than the

nearest competition


patent citations. It also showed that referencing to IEEE

papers in patents has increased 546% since 1997.

For example, in telecommunications technology, over

201,000 references to IEEE articles and conferences

represent just about half of all science references from

telecommunications patents since 1997. To help put

this in perspective, consider: telecommunications is a

very technology–driven industry and that technology

is often built upon scientific discoveries published in

journal and conference papers. If we consider this set

of papers as the science base of telecommunications,

then roughly half of that science base is published

in IEEE journals or presented at IEEE sponsored

conferences.

(Source: 1790 Analytics LLC, Copyright 2012)

IEEE Xplore® Digital library Expands

Other accomplishments included the launch of the IEEE Corporate

Workgroups product, specifically designed for smaller companies, which

expanded the customer base of IEEE Xplore. Additional enhancements

that improved the user experience include a prototype for next-generation

interactive research articles (XML content), the IEEE Standards Dictionary

Online, the IEEE Redline Version of Standards, IET Enterprise Suite, and a

mobile platform for the National Electrical Safety Code®.

New International Partnerships Provide Access to

Renowned Journals

To further enhance its value to the global research community, IEEE

reached agreements with Tsinghua University Press and the Beijing

Institute of Aerospace Information. These agreements make IEEE the

exclusive worldwide distributor of English language versions of the

notable journals Tsinghua Science and Technology and the Journal of

Systems Engineering and Electronics.

IEEE Xplore grew in content, subscribers, and partnerships in

2011, creating a more robust digital platform and efficient user

experience. The range of technical disciplines represented and

the number of documents published in IEEE Xplore has grown

significantly over the past several years. In 2011, IEEE Xplore

surpassed 3 million documents.

In addition, IEEE expanded its Shibboleth® coverage by joining the China

Education and Research Network (CERNET) federation. Shibboleth is

standards-based, open source software that enables single Web sign-on

across or within organizational boundaries, simplifying the management

of identity and permissions for organizations. The CERNET federation is

part of the CERNET Authentication and Resource Sharing Infrastructure

(CARSI) project, an inter-institutional authentication and authorization

project initiated by China’s Peking University. Membership in CERNET

gives users secure access to IEEE Xplore without requiring them to be

present at their institution. Peking University, Shenzhen University, and

Tsinghua University are now using this software in China.

4,000,000

3,000,000

2,000,000

1,000,000

500,000

02008 2009 2010 2011

IEEE Xplore® Content Growth

1.93 milliondocuments




IEEE Xplore’s content increases approximately 225,000 – 250,000

documents per year


A 2011 agreement with the German Electrical Engineering Society (VDE)

gives IEEE Xplore subscribers access to more than 3,000 English language

papers from more than 20 VDE annual conferences. About 1,000 new

papers will be added to the library each year.

eBooks: New Titles Added, Classics Remain Popular

The IEEE-Wiley eBooks Library continued to expand its offerings in 2011,

with the addition of 40 new eBooks from Wiley-IEEE Press, 13 IEEE

Standards Information Network titles, and 25 IEEE Computer Society

Press titles.

IEEE eLearning Library Joins iTunes® U

Late in the year, the IEEE eLearning Library made its debut on iTunes U,

Apple’s online resource for learning materials published by leaders in

education. Visitors can now find several hundred video and audio files from

IEEE societies and the IEEE Global History Network. The IEEE eLearning

Library is a series of online learning tutorials based on IEEE educational

content from IEEE conferences around the world. In 2011, it surpassed

300 tutorials, with the launch of several new series, including “Engineering

Ethics” and “Dual Port SRAM Design.”

Three New Publications Launched

IEEE Journal on Emerging and Selected Topics in Circuits and Systems

is a quarterly publication aimed at research in green systems, ambient

intelligence, sensor networks, nanotechnology, smart power, bio-inspired

electronics and bioinformatics, security, and other areas. The publication is

sponsored by the IEEE Circuits and Systems Society.

IEEE Journal of Photovoltaics (PV) is a quarterly publication covering

fundamentals and new concepts, PV systems, thin-film solar cells,

concentrator solar cells, organic PV, and advances in PV characterization.

The IEEE Electron Devices and the IEEE Power & Energy Societies are

sponsoring the journal.

IEEE Transactions on Terahertz Science and Technology

is dedicated to research on devices and systems

operating in the terahertz (THz) frequency range.

The biannual publication covers basic science and

applications of the THz spectrum in biology, medicine,

imaging, atmospheric and environmental science,

remote sensing, radio astronomy, spectroscopy,

telecommunications, and security. The IEEE Microwave

Theory and Techniques Society is the journal’s sponsor.

IEEE Expands Open Access

IEEE carried out key elements of the action plan for

open-access publishing in 2011, extending the program

begun the previous year. All IEEE journals produced by

IEEE Publishing Operations, the IEEE Computer Society,

and the IEEE Communications Society offer the open-

access option, giving authors the opportunity to make

their articles available at no cost to readers in the IEEE

Xplore® digital library.


Access to information remained a priority for IEEE in 2011. With new partnerships, products, and improved user experience,

IEEE increased the opportunity to impact intellectual property and technology development in the future.

Morris Chang receives the IEEE Medal of Honor at the IEEE Honors

Ceremony on Saturday, 20 August 2011, in front of an audience of

more than 1,200 guests in San Francisco, Calif. The IEEE Medal of

Honor is sponsored by the IEEE Foundation.

2011 IEEE Annual Report | Awards & Honors | 45

45Awards & Honors

Semiconductor industry leader

honored for life’s work.

Morris Chang Presented with IEEE Medal of Honor

Morris Chang, an engineer whose visionary

leadership shaped the technology policy for

an entire nation and revolutionized how the

semiconductor industry does business around

the world, received the highest medal bestowed

by IEEE. An IEEE Life Member, Chang is the

chairman and chief executive officer of the

Taiwan Semiconductor Manufacturing

Company, Ltd., in Hsinchu, Taiwan.

listing of Awards & HonorsA Mark of Significant Accomplishments

In 2011, 321 IEEE Senior Members were elevated to the grade of IEEE

Fellow. This honor is the highest membership grade IEEE members can

achieve and is presented annually to no more than one-tenth of one

percent of the voting membership as of December 31 the preceding year.

The IEEE Fellow grade recognizes outstanding members for their significant

accomplishments in advancing engineering, science, and technology, and

for their contributions to the IEEE mission.

IEEE Medals

In addition to the IEEE Medal of Honor, 15 medals, two service awards,

two corporate recognitions, and two honorary memberships were

presented at the 2011 IEEE Honors Ceremony.

2011 IEEE Edison Medal recipient Isamu Akasaki (top) arrives at the 2011 Honors

Ceremony recipient cocktail reception.

APJ Abdul Kalam (bottom), the first scientist to be elected president of India, received

the 2011 IEEE Honorary Membership for outstanding contributions toward transforming

society through technology and for inspiring millions of school children to harness

science and technology for human welfare and national development.

IEEE Recognitions

IEEE Alexander Graham Bell Medal

Arogyaswami J. Paulraj – Stanford University (Professor Emeritus)

Palo Alto, Calif., U.S.

Broadcom Corporation

Irvine, Calif., U.S.

Sponsor: Bell Labs

IEEE Edison Medal

Isamu Akasaki – Meijo University and Nagoya University

Nagoya, Japan

Sponsor: Samsung Electronics Company, Ltd.

IEEE Medal for Environmental and Safety Technologies

Shoichi Sasaki – Keio University Graduate School of System Design and Management

Yokohama, Japan

Sponsor: Toyota Motor Corporation

IEEE Founders Medal

James F. Gibbons – Stanford University


Sponsor: IEEE Foundation

IEEE Richard W. Hamming Medal

Toby Berger – Cornell University

Ithaca, N.Y., U.S.

University of Virginia

Charlottesville, Va., U.S.

Sponsor: QUALCOMM, Inc.

IEEE Medal for Innovations in Healthcare Technology

Harrison H. Barrett – University of Arizona

Tucson, Ariz.

Sponsor: IEEE Engineering in Medicine and Biology Society

IEEE Jack S. Kilby Signal Processing Medal

Ingrid Daubechies – Duke University

Durham, N.C., U.S.

Sponsor: Texas Instruments, Inc.


IEEE/RSE Wolfson James Clerk Maxwell Award

Marcian E. Hoff – Teklicon, Inc. (retired)

San Jose, Calif, U.S.

Sponsor: Wolfson Microelectronics plc

IEEE James H. Mulligan Jr. Education Medal

Raj Mittra – Pennsylvania State University

University Park, Pa., U.S.

King Fahd University of Petroleum and Minerals

Dammam, Saudi Arabia

Sponsors: Mathworks, Pearson Education, Inc., National Instruments Foundation,

IEEE Life Members Committee

IEEE Jun-ichi Nishizawa Medal

Bernard J. Lechner

Princeton, N.J., U.S.

T. Peter Brody – Advantech US Inc.

Pittsburgh, Pa., U.S.

Fang-Chen Luo – AU Optronics Corporation

Hsinchu, Taiwan

Sponsor: The Federation of Electric Power Companies, Japan and the Semiconductor

Research Foundation

IEEE Robert N. Noyce Medal

Pasquale Pistorio – STMicroelectronics

Geneva, Switzerland

Sponsor: Intel Foundation

IEEE Dennis J. Picard Medal for Radar Technologies and Applications

James M. Headrick – U.S. Naval Research Laboratory (retired)

Stanfield, Ore., U.S.

Sponsor: Raytheon Company

IEEE Medal in Power Engineering

William F. Tinney – Consultant

Portland, Ore., U.S.

Sponsor: IEEE Industry Applications and the Industrial Electronics, Power Electronics,

and Power & Energy Societies

IEEE Simon Ramo Medal

Neil G. Siegel – Northrop Grumman Corporation

Dominguez Hills, Calif., U.S.

Sponsor: Northrop Grumman Corporation

IEEE John von Neumann Medal

Tony Hoare – Microsoft Research Ltd.

Cambridge, U.K.

Sponsor: IBM Corporation

IEEE Recognitions

IEEE Corporate Innovation Recognition

imec – Leuven, Belgium

Sponsor: IEEE

IEEE Ernst Weber Engineering Leadership Recognition

Tze-Chiang Chen – IBM Research

Yorktown Heights, N.Y., U.S.

Sponsor: IEEE

IEEE Honorary Membership

APJ Abdul Kalam – Indian Institute of Space Science and Technology

Trivandrum, India

Wang Jianzhou – China Mobile Communications Corporation

Beijing, China

Sponsor: IEEE

IEEE Donald G. Fink Prize Paper Award

Andreas L. Molisch – University of Southern California

Los Angeles, Calif. U.S.

Larry J. Greenstein – Rutgers University WINLAB

North Brunswick, N.J., U.S.

Mansoor Shafi – Telecom New Zealand

Wellington, New Zealand

For their paper entitled “Propagation Issues for Cognitive Radio,” Proceedings of the

IEEE, Volume 97, Issue 5, May 2009, pp. 787–804.

Sponsor: IEEE Life Members Committee


IEEE Haraden Pratt Award

Levent Onural – Bilkent University

Ankara, Turkey

Sponsor: IEEE Foundation

IEEE Richard M. Emberson Award

Donald C. Loughry – Hewlett-Packard Company (retired)


Sponsor: IEEE Technical Activities Board

IEEE Technical Field AwardsAt ceremonies around the world in 2011, eminent engineers and other outstanding

technical professionals were presented with 28 Technical Field Awards, two IEEE

Teaching Awards, and one Prize Paper Award.

IEEE Cledo Brunetti Award

Massimo V. Fischetti – University of Texas

Dallas, Texas, U.S.

David J. Frank – IBM T.J. Watson Research Center


Steven E. Laux – IBM T.J. Watson Research Center


Sponsor: Brunetti Bequest and Taiwan Semiconductor Manufacturing Company Limited

IEEE Components, Packaging, and Manufacturing Technology Award

Rao R. Tummala – Georgia Institute of Technology

Atlanta, Ga., U.S.

Sponsor: IEEE Components, Packaging, and Manufacturing Technology Society

IEEE Control Systems Award

Eduardo D. Sontag – Rutgers University

Piscataway, N.J., U.S.

Sponsor: IEEE Control Systems Society

IEEE Electromagnetics Award

Yahya Rahmat-Samii – University of California, Los Angeles

Los Angeles, Calif., U.S.

Sponsor: IEEE Antennas and Propagation, Electromagnetic Compatibility, Microwave

Theory and Techniques, and Geoscience and Remote Sensing Societies

IEEE James L. Flanagan Speech and Audio Processing Award

Julia Hirschberg – Columbia University

New York, N.Y., U.S.

Sponsor: IEEE Signal Processing Society

IEEE Andrew S. Grove Award

Judy L. Hoyt – Massachusetts Institute of Technology

Cambridge, Mass., U.S.

Eugene A. Fitzgerald – Massachusetts Institute of Technology


Sponsor: IEEE Electron Devices Society

IEEE Herman Halperin Electric Transmission and Distribution Award

John H. Brunke – Consultant

Freeland, Wash., U.S.

Sponsor: The Robert and Ruth Halperin Foundation, in memory of Herman and Edna

Halperin, and the IEEE Power & Energy Society

IEEE Masaru Ibuka Consumer Electronics Award

Joan L. Mitchell – InfoPrint Solutions Company (retired)

Boulder, Colo., U.S.

Sponsor: Sony Corporation

IEEE Internet Award

Jun Murai – Keio University

Kanagawa, Japan

Sponsor: Nokia Corporation

IEEE Richard Harold Kaufmann Award

David D. Shipp – Eaton Electrical

Warrendale, Pa., U.S.

Sponsor: IEEE Industry Applications Society

IEEE Joseph F. Keithley Award in Instrumentation and Measurement

Reza Zoughi – Missouri University of Science and Technology

Rolla, Mo., U.S.

Sponsor: Keithley Instruments, Inc.


IEEE Gustav Robert Kirchhoff Award

Charles A. Desoer – University of California, Berkeley (retired)

Berkeley, Calif., U.S.

Sponsor: IEEE Circuits and Systems Society

IEEE Leon K. Kirchmayer Graduate Teaching Award

John D. Cressler – Georgia Institute of Technology

Atlanta, Ga., U.S.

Sponsor: Leon K. Kirchmayer Memorial Fund

IEEE Koji Kobayashi Computers and Communications Award

Thomas J. Richardson – QUALCOMM, Inc.

Bridgewater, N.J., U.S.

Rudiger Urbanke – École Polytechnique Fédérale de Lausanne

Lausanne, Switzerland

Sponsor: NEC Corporation

IEEE William E. Newell Power Electronics Award

Praveen K. Jain – Queen’s University

Kingston, Ontario, Canada

Sponsor: IEEE Power Electronics Society

IEEE Daniel E. Noble Award for Emerging Technologies

Mark L. Burgener – Peregrine Semiconductor Corporation

San Diego, Calif., U.S.

Ronald E. Reedy – Peregrine Semiconductor Corporation

San Diego, Calif., U.S.

Sponsor: Motorola Foundation

IEEE Donald O. Pederson Award in Solid-State Circuits

Willy Sansen – Katholieke Universiteit Leuven (professor emeritus)

Leuven, Belgium

Sponsor: IEEE Solid-State Circuits Society

IEEE Frederik Philips Award

Dim-Lee Kwong – Institute of Microelectronics, Singapore

National University of Singapore

Sponsor: Philips Electronics NV

:

IEEE Photonics Award

Amnon Yariv – California Institute of Technology

Pasadena, Calif., U.S.

Sponsor: IEEE Photonics Society

IEEE Emanuel R. Piore Award

Shafi Goldwasser – Massachusetts Institute of Technology


Weizmann Institute of Science

Rehovot, Israel

Sponsor: IEEE Emanuel R. Piore Award Fund

IEEE Judith A. Resnik Award

Kamal Sarabandi – University of Michigan

Ann Arbor, Mich., U.S.

Sponsor: IEEE Aerospace and Electronic Systems, Control Systems, and Engineering in

Medicine and Biology Societies

IEEE Robotics and Automation Award

Hirochika Inoue – University of Tokyo (professor emeritus)

National Institute of Advanced Industrial Science and Technology

Tokyo, Japan

Sponsor: IEEE Robotics and Automation Society

IEEE Frank Rosenblatt Award

Hans-Paul Schwefel – Technical University of Dortmund (professor emeritus)

Dortmund, Germany

Sponsor: IEEE Computational Intelligence Society

IEEE David Sarnoff Award

C.J. Chang-Hasnain – University of California, Berkeley


Sponsor: SRI International Sarnoff

IEEE Marie Sklodowska-Curie Award

Charles K. (Ned) Birdsall – University of California, Berkeley (professor emeritus)


Sponsor: IEEE Nuclear and Plasma Sciences Society


IEEE Charles Proteus Steinmetz Award

James W. Moore – The MITRE Corporation

McLean, Va., U.S.

Sponsor: IEEE Standards Association

IEEE Eric E. Sumner Award

H. Vincent Poor – Princeton University

Princeton, N.J., U.S.

Sponsor: Bell Labs

IEEE Nikola Tesla Award

Nady Boules – General Motors Global Research & Development

Warren, Mich., U.S.

Sponsor: The Grainger Foundation and the IEEE Power & Energy Society

IEEE Kiyo Tomiyasu Award

Moe Z. Win – Massachusetts Institute of Technology


Sponsor: Dr. Kiyo Tomiyasu, IEEE Geoscience & Remote Sensing Society, Microwave

Theory and Techniques Society, and KDDI R&D Laboratories, Inc.

IEEE Undergraduate Teaching Award

Raghunath K. Shevgaonkar – ITT

Bombay, India

University of Pune

Mumbai, India

Sponsor: IEEE Education Society

The Duke of Edinburgh presented

IEEE Life Fellow Marcian E. Hoff

(above) with the 2011 IEEE/RSE

Wolfson James Clerk Maxwell

Award in recognition of his work

as one of the inventors of

the microprocessor.


Achievement Recognition for IEEE

IEEE Operations Center Named Among Top 25 Places

to Work in New Jersey

Each year, NJBIZ business magazine honors the top places of employment

in New Jersey that benefit the state’s economy, workforce, and businesses.

IEEE was ranked number 25 in 2011, based on specific workplace data and

the results of a random survey of employees.

IEEE Spectrum® Recognized for Excellence in Science Reporting

IEEE members know IEEE Spectrum as their monthly window on

technology. The publication is also one of the few of its kind to report

science news via award-winning blogs, podcasts, webinars, and multimedia

experiences. Many stories in the magazine are expanded online with videos

and links to related information, all of which makes the magazine relevant

to a wider audience and promotes IEEE’s mission to advance technology

for humanity.

IEEE Spectrum received two prestigious Jesse H. Neal Awards for editorial

excellence from America Business Media. The awards have been called

“the Pulitzer Prize of business media” and are the business publishing

industry’s most prestigious honors.

IEEE received several accolades for its accomplishments, ranging from its publication industry awards to its recognition as one of the top workplaces.

> Senior News Editor Sam Moore and Associate

Editor Eliza Strickland were honored with the Best

News Coverage award for their report “Fukushima

Dai-Ichi Nuclear Disaster.” The report examined the

nuclear emergency that followed the earthquake

and tsunami in Japan in March 2011.

> Senior Associate Editor and Automaton blog editor

Erico Guizzo received the award for Best Blog.

The Automaton blog features news, articles, and

videos on robots, humanoids, automation, and

artificial intelligence, among other topics, and

generates 250,000 page views per month.

IEEE Spectrum also won the following EXCEL Awards,

sponsored by Association Meeting and Publishing:

> Gold Award–Magazines: Single-Topic Issue category

for the July 2010 issue

> Gold Award–Media Innovation: Podcasts category

for “Greetings from the South Pole”

> Silver Award–Media Innovation: Blogs category

for Automaton

> Bronze Award–Magazines: General

Excellence category

> Bronze Award–Magazines: Cover Photography for

the June 2010 issue

IEEE Women in Engineering Magazine Won Three

APEX Awards

IEEE Women in Engineering Magazine received

three APEX Awards for Communications Excellence,

sponsored by the Writing That Works newsletter:

> Magazines and Journals: Print Over 32 Pages

category for the June 2010 issue

> Interviews and Personal Profiles: Article category

for “Ready for Takeoff”

> One of a Kind Green Publications: Article category

for “Greener on the Other Side”


The award-winning November 2011 issue of IEEE Spectrum included an investigative report about

the nuclear disaster at Fukushima and how it affected energy policy changes around the world.

IEEE Board of Directors

Michael R. Williams, Sandra L. Robinson, Alfred O. Hero, Nim K. Cheung,

Jeffrey M. Voas, Charles P. Rubenstein, Steven M. Mills, Vincenzo Piuri, Enrique A. Tejera,

Wai-Choong Wong, Peter N. Clout

David A. Hodges, J. Keith Nelson, Edward G. Perkins, Om P. Malik, Susan K. Land,

Ronald G. Jensen, Tania L. Quiel, Marko Delimar, Ralph M. Ford, Theodore W. Hissey,

Clarence L. Stogner, Harold L. Flescher

James N. Riess, Eric Herz, Howard E. Michel, Donna L. Hudson, Pedro A. Ray, Moshe Kam,

Gordon W. Day, Tariq S. Durrani, E. James Prendergast, Roger D. Pollard, Hiroshi Iwai

Back Row, Left to Right

Middle Row, Left to Right

Front Row, Left to Right

Michael R. Williams, Sandra L. Robinson, Alfred O. Hero, Nim K. Cheung,

Jeffrey M. Voas, Charles P. Rubenstein, Steven M. Mills, Vincenzo Piuri, Enrique A. Tejera,

Wai-Choong Wong, Peter N. Clout

David A. Hodges, J. Keith Nelson, Edward G. Perkins, Om P. Malik, Susan K. Land,

Ronald G. Jensen, Tania L. Quiel, Marko Delimar, Ralph M. Ford, Theodore W. Hissey,

Clarence L. Stogner, Harold L. Flescher

James N. Riess, Eric Herz, Howard E. Michel, Donna L. Hudson, Pedro A. Ray, Moshe Kam,

Gordon W. Day, Tariq S. Durrani, E. James Prendergast, Roger D. Pollard, Hiroshi Iwai

2011 IEEE Annual Report | IEEE Board of Directors and Management Council | 59

IEEE Management Council

Back Row, Left to Right

Middle Row, Left to Right

Front Row, Left to Right

Cecelia Jankowski, Alexander Pasik, Matthew S. Loeb

Anthony Durniak, Mary Ward-Callan, Judith Gorman, Patrick D. Mahoney

Douglas Gorham, Elizabeth Davis, E. James Prendergast, Eileen M. Lach,

Chris Brantley, Thomas R. Siegert

Message from the IEEE treasurer

We have audited the accompanying consolidated statements

of financial position of The Institute of Electrical and Electronics

Engineers, Inc. (the Institute) as of December 31, 2011 and

2010, and the related consolidated statements of activities and

cash flows for the years then ended. These consolidated financial

statements are the responsibility of the Institute’s management.

Our responsibility is to express an opinion on these consolidated

financial statements based on our audits.

We conducted our audits in accordance with auditing standards

generally accepted in the United States. Those standards require

that we plan and perform the audits to obtain reasonable assurance

about whether the consolidated financial statements are free of

material misstatement. We were not engaged to perform an audit

of the Institute’s internal control over financial reporting. Our audits

included consideration of internal control over financial reporting as

a basis for designing audit procedures that are appropriate in the

circumstances, but not for the purpose of expressing an opinion

on the effectiveness of the Institute’s internal control over financial

reporting. Accordingly, we express no such opinion. An audit also

includes examining, on a test basis, evidence supporting the

amounts and disclosures in the consolidated financial statements,

assessing the accounting principles used and significant estimates

made by management, and evaluating the overall financial

statement presentation. We believe that our audits provide a

reasonable basis for our opinion.

In our opinion, the consolidated financial statements referred to

above present fairly, in all material respects, the financial position

of The Institute of Electrical and Electronics Engineers, Inc. at

December 31, 2011 and 2010, and the changes in its net assets

and its cash flows for the years then ended in conformity with U.S.

generally accepted accounting principles.

The IEEE Statement of Financial Position reflects total assets of

US$436.2 million and US$438.4 million at 31 December 2011

and 2010, respectively. The slight decrease of US$2.2 million

is primarily due to the investment loss offset by an increase in

capitalized equipment related to IEEE Business Platform (IBP).

While IEEE total liabilities were US$190.7 million and US$176.1

million at 31 December 2011 and 2010 respectively, the

increase of US$14.6 million was primarily due to deferred income

(subscriptions, dues, and assessments) and accrued pension, and

other. Overall, IEEE Net Assets decreased to US$245.5 million from

the 2010 year-end balance of US$262.4 million.

In 2011, IEEE had total revenues of US$383.8 million, a decrease of

US$9.1 million from 2010, as shown on the Statement of Activities.

The decrease in revenue was primarily due to the following:

1. Net investment revenue decreased US$28.5 million vs. 2010.

The net investment loss in 2011 is being shown as a net expense

in lieu of a reduction of revenue. 2. Intellectual property (IP)

revenue, including society non-member subscriptions, increased

US$8.5 million or 5.0%, primarily due to sales of the IEEE/IET

Electronic Library (IEL), which represented US$9.7 million of the

increase, partially offset by a decrease in other IP of US$1.2 million.

3. IEEE Standards Association revenue, exclusive of IP revenue

from IEL and IEEE Standards Online Library included above,

increased US$2.4 million. 4. IEEE Society Operations revenue

increased US$2.2 million over 2010. 5. Conference event revenue

increased US$1.9 million, exclusive of IP revenue from conference

proceedings included above.

The operating surplus in 2011 was US$12.5 million. The

operating surplus was offset by pension and related benefit

expense adjustment and investment loss of US$16.5 million; the

asset write-off of US$5.8 million related to the IBP project, and

other net expense items of US$7.0 million that resulted in an

overall net deficit of US$16.8 million.

IEEE received an unqualified opinion from Mitchell & Titus, LLP

in the Report of Independent Auditors. The independent auditors

met with the IEEE Audit Committee to discuss the scope and

results of their audit, their review on the adequacy of internal

accounting controls, and the quality of financial reporting prior to

issuing their opinion.

IEEE is tax exempt under Section 501(c)(3) of the Internal Revenue

Code. The IEEE Foundation is a separately incorporated related

organization of IEEE; accordingly, its audited financial statements are

not included in the accompanying documents.

I submit these reports with confidence that IEEE continues to be a

financially sound organization.

The Board of Directors – The Institute of Electrical and Electronics Engineers, Inc.Report of Independent Auditors

June 22, 2012

Harold L. Flescher

2011 IEEE Treasurer

CONSOLIDATED STATEmENTS Of fINANCIAL POSITION As of December 31, 2011 and 2010 2011 2010

ASSETS Current assets Cash and cash equivalents $ 12,366,100 $ 10,298,200 Accounts receivable, less allowance for doubtful accounts of $449,400 in 2011 and $455,500 in 2010 15,765,000 17,236,300 Inventories, prepaid expenses, and other assets 9,811,800 10,587,700 Investments 337,280,100 346,531,300

Total current assets 375,223,000 384,653,500 Long-term investments 191,400 191,400Land, buildings, and equipment, net of accumulated depreciation and amortization 60,823,000 53,582,200

Total assets $ 436,237,400 $ 438,427,100 LIABILITIES AND NET ASSETS Current liabilities Accounts payable and accrued expenses $ 43,746,200 $ 42,683,500 Current portion of accrued pension and other benefits expense 223,000 209,200 Deposits by IEEE Foundation, Incorporated 26,959,600 27,371,900 Trading liabilities 811,300 611,500 Debt obligations - 4,889,800 Current portion of capital lease obligations 1,627,800 1,351,700Deferred income Dues and assessments 35,110,900 37,455,500 Subscriptions and other 60,653,000 51,725,600

Total current liabilities 169,131,800 166,298,700Long-term liabilities Capital lease obligations, less current portion 3,083,200 2,513,600 Accrued pension and other benefits expense, less current portion 18,476,400 7,244,900

Total liabilities 190,691,400 176,057,200 Commitments Net assets Unrestricted 242,749,200 259,180,700 Temporarily restricted 2,605,400 2,997,800 Permanently restricted 191,400 191,400

Total net assets 245,546,000 262,369,900 Total liabilities and net assets $ 436,237,400 $ 438,427,100The accompanying notes are an integral part of these financial statements.

CONSOLIDATED STATEmENT Of ACTIvITIES Temporarily Permanently For the year ended December 31, 2011 Unrestricted Restricted Restricted Total REVENUE Membership and public imperatives $ 70,280,800 $ 355,400 $ - $ 70,636,200Periodicals 141,572,300 - - 141,572,300Conferences 140,709,200 - - 140,709,200Standards 28,683,300 226,000 - 28,909,300Other income 1,956,400 - - 1,956,400Net assets released from restrictions 971,100 (971,100) - -

Total revenue 384,173,100 (389,700) - 383,783,400

EXpEnSES Program services Membership and public imperatives 102,794,200 - - 102,794,200 Periodicals 131,623,800 - - 131,623,800 Conferences 117,154,100 - - 117,154,100 Standards 24,969,600 - - 24,969,600

Total program services 376,541,700 - - 376,541,700 Supporting services General and administrative 7,597,000 - - 7,597,000

Total expenses 384,138,700 - - 384,138,700 Investment loss, net 2,671,500 2,700 2,674,200 Pension and related benefits expense other than net periodic pension cost 13,794,400 - - 13,794,400 Change in net assets (16,431,500) (392,400) - (16,823,900)Net assets, beginning of year 259,180,700 2,997,800 191,400 262,369,900

Net assets, end of year $ 242,749,200 $ 2,605,400 $ 191,400 $ 245,546,000 The accompanying notes are an integral part of these financial statements.

2011 IEEE Annual Report | Financials | 61

June 22, 2012

CONSOLIDATED STATEmENT Of ACTIvITIES Temporarily Permanently For the year ended December 31, 2010 Unrestricted Restricted Restricted Total REVENUE Membership and public imperatives $ 66,330,200 $ 471,100 $ - $ 66,801,300 Periodicals 134,648,400 - - 134,648,400 Conferences 138,317,300 - - 138,317,300 Standards 25,319,800 515,500 - 25,835,300 Investment income, net 25,794,700 28,700 - 25,823,400 Other income 1,489,800 - - 1,489,800 Net assets released from restrictions 603,500 (603,500) - -

Total revenue 392,503,700 411,800 - 392,915,500 EXPENSES Program services Membership and public imperatives 95,223,300 - - 95,223,300 Periodicals 120,633,000 - - 120,633,000 Conferences 112,604,200 - - 112,604,200 Standards 20,134,700 - - 20,134,700 Total program services 348,595,200 - - 348,595,200 Supporting services General and administrative 8,267,700 - - 8,267,700 Total expenses 356,862,900 - - 356,862,900 Pension and related benefits expense other than net periodic pension cost 2,840,100 - - 2,840,100 Change in net assets 32,800,700 411,800 - 33,212,500 Net assets, beginning of year 226,380,000 2,586,000 191,400 229,157,400

Net assets, end of year $ 259,180,700 $ 2,997,800 $ 191,400 $ 262,369,900 The accompanying notes are an integral part of these financial statements.

CONSOLIDATED STATEmENTS Of CASH fLOWSFor the years ended December 31, 2011 and 2010 2011 2010

OPERATING ACTIVITIES Change in net assets $ (16,823,900) $ 33,212,500 Adjustments to reconcile change in net assets to net cash provided by operating activities Depreciation and amortization expense 11,740,500 10,046,400 Write off of previously capitalized assets 5,784,500 - Net assets from Eta Kappa Nu (HKN) acquisition - (79,400) Net realized and unrealized losses (gains) from investments 10,301,600 (20,893,000) Change in fair value of interest rate swaps - (77,000)Change in assets and liabilities Accounts receivable, net 1,471,300 (1,880,300) Inventories, prepaid expenses, and other assets 775,900 4,155,700 Accounts payable and accrued expenses 386,000 22,422,100 Accrued pension and other benefits expense 11,245,300 (6,925,500) Deposits by IEEE Foundation, Incorporated (412,300) 25,768,300 Deferred income 6,582,800 (16,872,300)

Net cash provided by operating activities 31,051,700 48,877,500 INVESTING ACTIVITIES Proceeds from sale of investments 240,730,300 478,440,000 Proceeds from sale of land, buildings, and equipment 13,800 1,000 Proceeds from HKN acquisition - 483,400 Purchase of land, buildings and equipment (22,223,700) (14,955,500)Purchases of investments (241,580,900) (510,581,600)

Net cash used in investing activities (23,060,500) (46,612,700) FINANCING ACTIVITIES Change in cash overdraft 676,700 263,600 Payment of debt obligations (4,889,800) (1,020,000)Payment of capital lease obligations (1,710,200) (1,432,100)

Net cash used in financing activities (5,923,300) (2,188,500) Net increase in cash and cash equivalents 2,067,900 76,300 Cash and cash equivalents, beginning of year 10,298,200 10,221,900 Cash and cash equivalents, end of year $12,366,100 $10,298,200 SUPPLEMENTAL DATA Interest paid $ 603,800 $ 713,700 Noncash items Acquisition of equipment through capital lease obligations $ 2,555,900 $ 2,166,300 The accompanying notes are an integral part of these financial statements.

YEAR EnDED DECEMBER 31


NOTE 1 ORGANIZATION AND NATURE Of OPERATIONSThe objectives of The Institute of Electrical and Electronics Engineers, Inc. (the Institute, or IEEE) are (a) scientific and educational, directed toward theadvancement of the theory and practice of electrical engineering, electronicsengineering, computer engineering, computer sciences, and the allied branches of engineering and related arts and sciences and (b) professional, directed toward the advancement of the standing of the members of the profession it serves.

Implementation of the Institute’s objectives is performed primarily throughregions, sections, societies, and councils and their financial results areincorporated in the Institute’s accompanying consolidated financial statements. These units were formed to serve the specialized technical interests of members and to coordinate these with the local activities of the sections and the broader activities of the Institute. The societies and councils promote the technical interests of their members through symposia, conferences, and various publications.

NOTE 2 SUmmARY Of SIGNIfICANT ACCOUNTING POLICIESBasis of PresentationThe Institute’s consolidated financial statements are presented in conformity with U.S. generally accepted accounting principles and have been prepared on the accrual basis of accounting. The consolidated financial statements include the accounts of the societies, councils, regions, sections, IEEE, Inc., Global IEEE Institute for Engineers Private Limited, IEEE Global LLC and IEEE LLC.

Use of EstimatesThe preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Consolidated Financial StatementsResources are reported for accounting purposes into separate classes of net assets based on the existence or absence of donor-imposed restrictions. In the accompanying consolidated financial statements, net assets with similar characteristics have been combined into similar categories as follows:

Permanently restricted: Net assets subject to donor-imposed stipulations that are maintained permanently by the Institute. Such assets primarily include the Institute’s permanent endowment funds. The principal of these endowments cannot be expended. The income earned can only be used as designated by the donor, and is then recorded as temporarily restricted.

Temporarily restricted: Net assets used by the Institute and subject to donor-imposed stipulations that can be fulfilled by actions of the Institute pursuant to those stipulations or that expire by the passage of time. These temporarily restricted net assets are designated principally for awards, medals, and specific projects.

Unrestricted: Net assets that are not subject to donor-imposed stipulations. Unrestricted net assets may be designated for specific purposes by action on behalf of the Board of Directors or may otherwise be limited by contractual agreements with outside parties. Unrestricted net assets can be utilized to carry out any of the purposes of the Institute.

The Institute’s endowment consists of individual funds established for a variety of purposes and includes donor-restricted endowment funds. As required by U.S. generally accepted accounting principles, net assets associated with endowment funds are classified and reported based on the existence or absence of donor-imposed restrictions.

The Institute held $191,400 in permanently restricted assets at December 31, 2011 and December 31, 2010 respectively.

On September 17, 2010, the State of New York enacted the New York Prudent Management of Institutional Funds Act (NYPMIFA), a modified version of the Uniform Prudent Management of Institutional Funds Act, which superseded the State of New York Uniform Management of Institutional Funds Act (the prior law). The Institute has evaluated the effect of NYPMIFA on the investment, appropriation, and management of its institutional funds and established procedures to comply with its provisions.

Expenses are generally reported as decreases in unrestricted net assets. Expiration of donor-imposed stipulations that simultaneously increase unrestricted net assets and decrease temporarily restricted net assets are reported as net assets released from restrictions. Temporarily restricted revenues received and expended during the same fiscal year are recorded as unrestricted revenues and expenses in the consolidated statements of activities.

The consolidated financial statements of the Institute should be read in conjunction with the financial statements of IEEE Foundation, Incorporated, a related organization (see Note 14).

Revenue RecognitionRevenue from membership dues and yearly periodical subscriptions is recognized on a straight-line basis over the period to which it pertains. Amounts received in advance are included in deferred income.

Revenue and expense from conferences are recorded on the accrual basis in the year the conferences are held. Amounts received in advance are included in deferred income.

Revenue from contributions is recorded at its fair value in the period received, including unconditional promises to give, and is classified based upon the existence or absence of donor-imposed restrictions.

Contributions received by the Institute are primarily private and governmental grants and contain donor-imposed restrictions as to their use. These restrictions are usually fulfilled within a two-year period by satisfying the respective restrictions. Standards revenue primarily includes revenue from periodical subscriptions, publications, and standards development groups, which are similar to conferences.

Cash and Cash Equivalents Cash and cash equivalents include highly liquid, short-term investments purchased with maturities of three months or less from the date of acquisition.

Accounts Receivable and Allowance for Doubtful AccountsAccounts receivable are recorded at the invoiced amount and do not bear interest. Management reviews a customer’s credit history before extending credit. The Institute maintains allowances for doubtful accounts against certain billed receivables based upon the latest information available regarding whether receivables are ultimately collectible. Assessing the collectability of customer receivables requires management’s judgment. The Institute determines its allowance for doubtful accounts by specifically analyzing individual accounts receivable, historical bad debts, customer creditworthiness, current economic conditions, and accounts receivable aging trends. Valuation reserves are periodically re-evaluated and adjusted as more information about the ultimate collectability of accounts receivable becomes available. Upon determination that a receivable is uncollectible, the receivable balance and any associated reserve are written off.

InvestmentsInvestments, except special funds, are carried at fair value, which is generally determined on the basis of quoted market prices (see Note 3). Special funds are managed by an investment adviser and management group of companies (the Investment Manager) and invested in trusts, which, in turn, are invested primarily in marketable U.S. equity and debt securities. The special funds investments are carried at the unit price computed by the Investment Manager based on the fair value of the respective funds’ net assets. There are no sale restrictions on the redemption of these funds. These funds require approximately one week after the trade date for cash to be wired back to the Institute. The Institute invests in these funds to diversify its investment portfolio. (See Note 12 for more information regarding the fair value measurement of these investments.)

Realized gains and losses on sales of investments are determined on an average cost basis. Purchases and sales of securities are recorded on a trade date basis.

Land, Buildings, and EquipmentLand, buildings, and equipment are stated at cost, including interest expense capitalized during the period of construction of the asset, or period of development until the time that it is ready for intended use, in the case of internal-use software. Depreciation is provided on a straight-line basis over the estimated useful life of the asset. Buildings, furniture, and equipment are depreciated or amortized over periods ranging from three

YEAR EnDED DECEMBER 31

NOTE 2 SUmmARY Of SIGNIfICANT ACCOUNTING POLICIES (continued)to 35 years. Assets under capital leases are depreciated over the term of the lease. Building improvements are amortized over 20 years. Software development costs are amortized over five years.

Upon retirement or other disposition of fixed assets, the cost and related accumulated depreciation or amortization are removed from the accounts and the resulting gains or losses, if any, are reflected in the consolidated statements of activities. Long-lived assets are reviewed for impairment when circumstances indicate that their carrying value may not be recoverable.

Accounts Payable and Accrued ExpensesCash overdrafts are included in accounts payable and accrued expenses.

At December 31, 2011 and 2010, cash overdrafts amounted to $2,824,400 and $2,147,700, respectively.

Risks and UncertaintiesThe Institute invests in several investment securities, which are exposed to various risks, such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term. Such changes could materially affect the amounts reported in the consolidated statements of financial position.

ReclassificationCertain amounts in the 2010 consolidated financial statements have been reclassified to be consistent with the 2011 presentation.

NOTE 3 INvESTmENTS Investments and trading liabilities at December 31, 2011 and 2010 consisted of the following:

Investments Short-term investments Due from brokers and accrued interest $ - $ - $ 14,000 $ 14,000 Term deposits 2,501,900 2,501,900 1,956,300 1,956,300 Money market funds 61,202,600 61,202,600 63,075,400 63,075,400

63,704,500 63,704,500 65,045,700 65,045,700 Equity investments Equity securities 105,679,100 117,478,600 101,647,700 120,089,700 Mutual funds 55,585,300 41,489,200 54,167,700 49,831,900 Overnight investments 2,912,900 2,912,900 4,139,500 4,139,500 Due from brokers and accrued interest and fees 213,200 213,200 279,900 279,900

164,390,500 162,093,900 160,234,800 174,341,000

Fixed-income investments U.S. Government obligations 14,369,000 14,807,100 13,664,000 13,573,300 Term deposits 735,700 735,700 808,100 808,100 Overnight investments 48,600 48,600 37,500 37,500 Mutual funds 84,026,100 85,808,100 81,096,300 82,487,200 Due from brokers and accrued interest and fees 115,900 115,900 107,500 107,500

99,295,300 101,515,400 95,713,400 97,013,600 Special funds Investment in commingled 8,238,300 10,157,700 8,208,500 10,322,400 8,238,300 10,157,700 8,208,500 10,322,400

Total investments 335,628,600 337,471,500 329,202,400 346,722,700 Trading liabilities Short-term investments Due to brokers and accrued fees (4,800) (4,800) (5,200) (5,200) Equity investments Due to brokers and accrued fees (774,300) (774,300) (597,900) (597,900)Fixed-income investments Due to brokers and accrued fees (32,200) (32,200) (8,400) (8,400)

Total trading liabilities (811,300) (811,300) (611,500) (611,500)

Net investments $ 334,817,300 $ 336,660,200 $ 328,590,900 $ 346,111,200

2011 2010

NOTE 4 INvESTmENT (LOSS) INCOmE Net investment (loss) income for the years ended December 31, 2011 and 2010 consisted of the following:

Interest and dividends $ 7,627,400 $ 4,930,400Realized gains, net 5,375,800 2,348,400Change in net unrealized (losses) gains (15,677,400) 18,544,600

$ ( 2,674,200) $ 25,823,400 Investment expense amounted to $830,000 and $626,400 in 2011 and 2010, respectively, and is netted against investment income.

Cost CostFair Value Fair Value

2011 2010


NOTE 5 LAND, BUILDINGS, AND EQUIPmENT Fixed assets,carried at cost, and the related accumulated depreciation and amortization at December 31, 2011 and 2010 consisted of the following:

Buildings $ 17,956,300 $ 11,502,800 $ 17,956,300 $ 11,048,700Furniture and equipment 76,781,100 48,116,400 66,238,900 42,529,700Building improvements 11,157,600 4,015,800 9,988,100 3,330,500

105,895,000 63,635,000 94,183,300 56,908,900 Land 873,000 - 873,000 -Information systems upgrade in process 17,690,000 - 15,434,800 -

Total $ 124,458,000 $ 63,635,000 $ 110,491,100 $ 56,908,900

Furniture and equipment include assets under capital leases of $8,452,700 and $7,134,700 as of December 31, 2011 and 2010, respectively. Accumulated amortization of assets recorded under capital leases amounted to $3,776,200 and $3,287,900 at December 31, 2011 and 2010, respectively.

In 2011, $5,784,500 of previously capitalized assets was deemed impaired and written off and has been reflected in general and administrative expenses on theconsolidated statement of activities. These assets were software development costs related to the IEEE Business Platform (IBP) project and had not yet beenplaced in service. A new approach to the IBP project was approved and these assets are no longer usable under that approach.

2011 2010

AccumulatedDepreciation

and Amortization

AccumulatedDepreciation

and Amortization

The Series A Bonds consisted of variable-rate bonds issued in the aggregate amount of $7,065,000 on May 10, 2001 for the purpose of advance refunding a portion of the 1994 Bonds to take advantage of lower interest rates. The advance refunding resulted in the defeasance and legal extinguishment of the callable portion of the 1994 Bonds due from 2005 to 2014, which totaled $6,390,000. In conjunction with the issuance of the Series A Bonds, the Institute entered into a swap agreement on April 24, 2001 with Wachovia Bank, a Wells Fargo Bank, N.A. company, whereby the Institute’s interest rate obligation was fixed at 4.55% per year (the Series A Swap). The underlying notional amount of the Series A Swap was to be amortized through April 1, 2014 and matched the outstanding balance of the Series A Bonds, which amounted to $3,145,000 as of December 31, 2010. The estimated fair value of the Series A Swap reflected a liability ofapproximately $214,300 at December 31, 2010. The outstanding principal amount of the Series A Bonds at redemption on April 1, 2011 was $3,145,800.

The Series B Bonds consisted of variable-rate bonds issued in the aggregateamount of $3,810,000 on September 28, 2001 to permanently finance therenovation of a 15,000-square-foot warehouse facility into a new computer center and related equipment purchases and installations. In conjunction with the issuance of the Series B Bonds, the Institute entered into a swap agreement on August 22, 2001 with Wachovia Bank, whereby the Institute’s interest rate obligation was fixed at 4.34% per year (the Series B Swap). The underlying notional amount of the Series B Swap was to be amortized through April 1, 2014 and matched the outstanding balance of the Series B Bonds, which amounted to $1,435,000 as of December 31, 2010. The estimated fair value of the Series B Swap reflected a liability of approximately $95,500 at December 31, 2010. The outstanding principal

amount of the Series B Bonds at redemption on April 1, 2011 was $1,435,400.

An irrevocable standby Letter of Credit and Reimbursement Agreement withWachovia Bank, dated May 1, 2001 and amended on September 1, 2001,collateralized both Series A and Series B Bonds. The letter of credit was available if any of the Series A or Series B Bonds were tendered and were unable to be remarketed. If the letter of credit was used, the Institute would have been required to reimburse Wachovia Bank on demand, including certain fees and charges. U.S. generally accepted accounting principles require that the current portion of long-term debt for bonds subject to such demand purchase option be calculated based on the letter of credit terms. Accordingly, at December 31, 2010, the entire amount outstanding on the Series A and Series B Bonds was classified as a current liability in the accompanying consolidated statements of financial position.

The letter of credit amounted to $4,649,300 at December 31, 2010.

The Institute maintains a credit facility, which was increased from $25,000,000 in 2010 to $50,000,000 in 2011. The credit facility consists of $20,000,000 with Wells Fargo Bank, N.A. (formerly Wachovia Bank), $15,000,000 with JPMorgan Chase Bank, N.A. (previously The Bank of New York), and $15,000,000 with HSBC Bank, N.A. USA, under a revolving credit agreement dated February 28, 2002, as amended. The Institute is charged commitment fees, which amounted to $133,000 in 2011 and $126,700 in 2010, on the unused portion of the credit facility. The credit facility was not utilized in 2011 and 2010; the Institute had no outstanding borrowings under the credit facility in either year. On September 27, 2011, the revolving credit agreement, as amended, was extended until September 1, 2013.

NOTE 6 DEBT OBLIGATIONS

On April 1, 2011, the Institute fully redeemed the Series A and Series B bonds. The irrevocable letter of credit that collateralized this debt expired on May 1, 2011. The related Series A and Series B interest rate swap agreements were also terminated.

Debt obligations at December 31, 2010 consisted of loans from bond proceeds issued by the New Jersey Economic Development Authority (NJEDA), as follows:

NJEDA 2001 Series A Bonds, variable rate, annual principal and sinking fund payments through April 1, 2014 (the “Series A Bonds”); collateralized by irrevocable direct-pay letter of credit issued by Wachovia Bank, a Wells Fargo Bank, N.A. company. $ 3,145,000

NJEDA 2001 Series B Bonds, variable rate, annual principal and sinking fund payments through April 1, 2014 (the “Series B Bonds”); collateralized by irrevocable direct-pay letter of credit issued by Wachovia Bank, a Wells Fargo Bank, N.A. company. 1,435,000

4,580,000Liability under swap agreements Series A Bonds 214,300 Series B Bonds 95,500

$ 4,889,800

Cost Cost

As of December 31, 2011, the amount of the line of credit for issuing standby letters of credit was $233,600 with HSBC Bank USA, N.A. The Institute is charged 1% of the face amount, upon issuance, of the standby letters of credit.

The Institute is required to maintain certain financial ratios under the revolving credit agreement with Wells Fargo Bank, N.A., JPMorgan Chase Bank, N.A., and HSBC Bank, N.A. USA. At December 31, 2011, the Institute

was in violation of certain financial ratios due to non-operational losses on investments and pension and related benefits. On June 8, 2012, the Institute obtained a waiver and amendment from Wells Fargo Bank, N.A., JPMorgan Chase Bank, N.A., and HSBC Bank, N.A. USA waiving violations at December 31, 2011 and amending the definitions of the financial ratios.

Interest expense, net of amounts capitalized of $527,800 in 2011 and $73,400 in 2010, amounted to $76,000 for 2011 and $640,300 for 2010.

The following tables provide a reconciliation of the changes in the plans’ benefit obligations and fair value of assets over the two-year period ended December 31, 2011, and a statement of the funded status as of December 31 of both years:

Reconciliation of benefit obligationObligation at January 1 $ 73,354,300 $ 68,180,000 $ 3,943,100 $ 3,515,200 Service cost 255,000 255,000 189,900 162,900 Interest cost 3,665,500 3,697,200 204,300 197,100 Actuarial loss 8,282,800 5,089,300 609,300 218,400 Benefit payments (3,746,400) (3,867,200) (139,000) (150,500)

obligation at December 31 $81,811,200 $73,354,300 $4,807,600 $3,943,100 Reconciliation of fair value of plan assets Fair value of plan assets at January 1 $ 69,843,300 $ 57,315,600 $ - $ - Actual return on plan assets (1,285,300) 6,477,200 - - Employer contributions 3,107,800 9,917,700 139,000 150,500 Benefit payments (3,746,400) (3,867,200) (139,000) (150,500)

Fair value of plan assets at December 31 $67,919,400 $69,843,300 $ - $ - Funded statusFunded status at December 31 $ (13,891,800) $ (3,511,000) $ (4,807,600) $ (3,943,100)

The accumulated benefit obligation for all defined benefit pension plans was $81,811,200 at December 31, 2011 and $73,354,300 at December 31, 2010.

Pension Benefits Other Benefits

NOTE 7 OBLIGATIONS UNDER CAPITAL LEASES The approximate annual rental payments for obligations under capital leases are as follows:

2012 $ 1,843,3002013 1,438,5002014 1,147,5002015 764,4002016 204,700

Total 5,398,400Less: Amount representing interest imputed at an average rate of 7.95% 687,400

Present value of minimum lease payments $ 4,711,000

Amortization of the assets under capital leases is included in depreciation and amortization expense.

NOTE 8 COmmITmENTS AND CONTINGENCIES At December 31, 2011, minimum rental commitments under noncancelable operating leases for office space and computer equipment are as follows: 2012 $ 2,390,6002013 2,432,9002014 2,229,0002015 1,997,2002016 1,885,300Thereafter 11,398,600

$ 22,333,600

NOTE 9 PENSION AND OTHER POST-RETIREmENT BENEfITS The Institute sponsors two qualified pension plans and one nonqualified pension plan and other post-retirement benefit plans for its employees. In November 2006, the Board of Directors approved the freezing of the qualified employee benefit plans as of June 30, 2007 and the implementation of a defined contribution plan effective July 1, 2007.

The leases for the office space are subject to escalation. Total rent expense for noncancelable operating leases amounted to $2,498,800 and $2,810,700 in 2011 and 2010, respectively. At December 31, 2011, the Institute had an irrevocable standby letter of credit in the amount of $583,000 with Wells Fargo Bank, N.A., which serves as a security deposit as required by the terms of its lease agreement with Three Park Avenue Building Company, LP.

The Institute is currently involved in certain litigation and claims arising in the ordinary course of business. Its management believes that the amount of any liability arising out of these actions that may be sustained, if any, beyond existing insurance liability coverages would not have a material impact on the accompanying consolidated financial statements.

Year

Year

Amount

Amount

2011 20112010 2010

NOTE 6 DEBT OBLIGATIONS (continued)

Information for benefit plans with an accumulated benefit obligation in excess of plan assets as of December 31 consisted of:

Projected benefit obligation $ 81,811,200 $ 73,354,300 $ 4,807,600 $ 3,943,100Accumulated benefit obligation 81,811,200 73,354,300 - - Fair value of plan assets 67,919,400 69,843,300 - - The following table provides the components of net periodic benefit cost for the plans for 2011 and 2010:

Service cost $ 255,000 $ 255,000 $ 189,900 $ 162,900 Interest cost 3,665,500 3,697,200 204,400 197,100 Expected return on plan assets (4,482,500) (4,576,800) - - Amortization of transition obligation - - 45,800 45,800 Amortization of prior service cost 200 300 33,200 33,200 Amortization of net loss 754,400 511,000 31,900 18,600

net periodic (benefit) cost $ 192,600 $ (113,300) $ 505,200 $ 457,600

The estimated amount of net unrestricted assets to be recognized as net periodic benefit cost in the next fiscal year is as follows:

Transition obligation $ - $ 45,800 Prior service cost - 22,900 Net loss 2,119,000 61,600

Total $ 2,119,000 $ 130,300The prior service costs are amortized on a straight-line basis over the average remaining service period of active participants. Gains and losses in excess of 10% of the greater of the benefit obligation and the market-related value of assets are amortized over the average remaining service period of active participants

The Institute has multiple noncontributory, nonpension post-retirement benefit plans. The assumptions used in the measurement of the Institute’s benefit obligation are shown in the following table:

Assumptions as of December 31 Discount rate 4.25% 5.25% 4.25% 5.25% Rate of compensation increase N/A N/A N/A N/A

Benefits Other Benefits

Amounts recognized in changes in unrestricted net assets for the year ended December 31 consisted of:

Net loss $ 13,296,300 $ 2,678,100 $ 577,300 $ 241,300 Prior service cost (200) (300) (33,200) (33,200) Net transition obligation - - (45,800) (45,800)

Total $ 13,296,100 $ 2,677,800 $ 498,300 $ 162,300

Cumulative amounts recognized in changes in unrestricted net assets and not yet recognized in net periodic benefit cost as of December 31 consisted of:

Net loss $ 29,129,800 $ 15,833,500 $ 1,406,100 $ 828,800Prior service cost - 200 22,900 56,200 Net transition obligation - - 137,300 183,000

Total $ 29,129,800 $ 15,833,700 $ 1,566,300 $ 1,068,000

At December 31, the funded status of the plans is reported in the consolidated statements of financial position as follows:

Current liabilities $ (17,700) $ (17,700) $ (205,300) $ (191,500)Noncurrent liabilities (13,874,100) (3,493,300) (4,602,300) (3,751,600)

net amount recognized $ (13,891,800) $ (3,511,000) $ (4,807,600) $ (3,943,100)

Pension Benefits

Pension Benefits

Pension Benefits

Pension Benefits

Pension Benefits

Pension Benefits

Other Benefits

Other Benefits

Other Benefits

Other Benefits

Other Benefits

Other Benefits


2011

2011

2011

2011

2011

2011 2011

2011

2011

2011

2011

2011

2010

2010

2010

2010

2010

2010 2010

2010

2010

2010

2010

2010

NOTE 9 PENSION AND OTHER POST-RETIREmENT BENEfITS (continued)

Plan AssetsIEEE determines its assumptions for the expected rate of return on plan assets for its retirement plans based on ranges of anticipated rates of return for each asset class. A weighted range of nominal rates is then determined based on target allocations for each asset class. IEEE considers the expected rate of return to be a longer-term assessment of return expectations and does not anticipate changing this assumption annually unless economic conditions change significantly. The expected rate of return for each plan is based upon its expected asset allocation. Market performance over a number of earlier years is evaluated covering a wide range of economic conditions to determine whether there are reliable reasons for projecting forward any past trends.

IEEE’s pension and post-retirement plan asset allocation for the U.S. plans at the end of 2011 and 2010, and the target allocation for 2011 by asset category based on asset fair values are as follows:

Third-party investment managers manage IEEE’s pension plan assets, rebalancing assets as the Institute deems appropriate. IEEE’s investment strategy with respect to its pension assets is to maintain a diversified investment portfolio across several asset classes targeting an annual rate of return of 6.75% in 2011 and 2010, while ensuring that the accumulated benefit obligation is fully funded. To develop the expected long-term rate of return on assets assumption, the Institute considered the historical returns and the future expectations for returns for each asset class, as well as the target asset allocation of the pension portfolio.

IEEE’s pension and post-retirement funds’ investment strategies are to invest in a prudent manner for the exclusive purpose of providing benefits to participants. The investment strategies are targeted to produce a total return that, when combined with IEEE’s contributions to the funds, will maintain the funds’ ability to meet all required benefit obligations. Risk is controlled through diversification of asset types and investments in debt securities, domestic and international equities, fixed income securities, and cash.

The Institute’s investment objectives for the pension plans are to minimize the volatility of the pension assets relative to pension liabilities and to offset the required contributions. The prior target asset allocations were 65% equity securities and 35% debt securities. In 2011, as part of a pension de-risking strategy, the investment strategy was revised to increase the matchingcharacteristics of the plans assets relative to the liabilities. The new target asset allocations, which were reached before the end of 2011, are 10% equity securities and 90% debt securities.

Investment strategies and policies for the pension plans reflect a balance of risk-reducing and return-seeking considerations. The objective of minimizing the volatility of assets relative to liabilities is addressed primarily through asset - liability matching. At December 31, 2011, approximately 90% of the plan assets were invested in corporate bonds and U.S. Government securities. These debt securities match the long-dated nature of the pension liabilities. At December 31, 2011, approximately 5% of the plan assets were held in common stock and 5% in mutual funds. These equity investments should provide asset growth to offset required contributions. The Institute’s policy is to reconsider the plan asset allocation investments regularly to ensure actual allocations are in line with target allocations.

All plan assets are externally managed. Investment managers are not permitted to invest outside of the asset class(es) or strategy for which they have been appointed. The Institute uses investment guidelines to ensure investment managers invest solely within the investment strategy for which they have been retained.

The investment guidelines allow the managers to keep up to 5% in cash and cash equivalents. Contributions made in the plan years ended December 31, 2011 and 2010 were approximately $3,246,800 and $9,917,700, respectively. In the first quarter of 2012, an additional $4,500,000 contribution was made for the plan year ended December 31, 2011.

The fair value hierarchy of the pension and post-retirement funds’ investments at December 31, 2011 is displayed in the table below. See Note 12 for an explanation of the fair value hierarchy levels and determination of fair value.

The fair value hierarchy of the pension and post-retirement funds’ investments at December 31, 2010 is displayed in the table below. See Note 12 for an explanation of the fair value hierarchy levels and determination of fair value.

Asset Category 2011 2010 2011 2010

Equity securities 10% 10% 68% N/A N/ADebt securities 90% 90% 31% N/A N/ACash and cash equivalents - 0% 1% N/A N/A

Total 100% 100% 100% N/A N/A

2011 Target Asset Allocation

Pension Assets at December 31

Post-Retirement Assets at December 31

financial assetsCommon stock

Industrials $ 191,800 $ - $ - $ 191,800 Telecommunications 207,800 - - 207,800 Consumer 525,500 - - 525,500 Other 2,496,400 - - 2 ,496,400

total common stocks 3,421,500 - - 3 ,421,500Mutual funds Other funds 3,642,500 - - 3 ,642,500

total mutual funds 3,642,500 - - 3 ,642,500Corporate bonds - 52,418,600 - 52,418,600U.S. Government securities 6,928,100 - - 6 ,928,100Short-term investments 791,800 - - 791,800

total assets at fair value 14,783,900 52,418,600 - 67,202,500Net receivables 716,900 - - 716,900

total assets $ 15,500,800 $ 52,418,600 $ - $ 67,919,400

Level 1 Level 2 Level 3 Total

The assumptions used in the measurement of the net periodic benefit cost are shown in the following table:

Weighted-average assumptions as of January 1 Discount rate 5.25% 5.75% 5.25% 5.75% Expected return on plan assets 6.75% 7.50% N/A N/A Rate of compensation increase N/A N/A N/A N/A

The health care plan benefits are a flat dollar reimbursement to the retirees toward health care premiums. An increase in the reimbursement amount is not assumed.


Pension Benefits Other Benefits

2011 20112010 2010

ContributionsThere are no required contributions due to the qualified pension plans during 2012 under the Internal Revenue Service’s (IRS) minimum funding regulations.

IEEE expects to contribute approximately $18,000 to its nonqualified pension plan and approximately $205,000 to its other post-retirement benefit plans during 2012.

NOTE 10 401(K) SAvINGS AND INvESTmENT PLANThe Institute has a defined contribution 401(k) Savings and Investment Plan (the Plan) for eligible employees, who are eligible to participate after the start of the next pay period following 30 days of employment. Under the Plan, employees may generally contribute from 2% to 16% of their salary; however, not in excess of IRS limitations. The Institute provides a 100% matching contribution up to 4% of each employee’s salary. The Institute contributed $2,970,900 and $2,941,700 to the Plan in 2011 and 2010, respectively.

NOTE 11 TAX STATUSThe Institute is qualified under Section 501(c)(3) of the Internal Revenue Code as an organization exempt from federal income taxes.

Accounting principles generally accepted in the United States require management to evaluate uncertain tax positions taken by the Institute. The financial statement effects of a tax position are recognized when the position is more likely than not, based on the technical merits, to be sustained upon examination by the IRS. Management has analyzed the tax positions taken by the Institute, and has concluded that as of December 31, 2011, there are no uncertain positions taken or expected to be taken. The Institute has recognized no interest or penalties related to uncertain tax positions. The

Institute is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Management believes it is no longer subject to income tax examinations for years prior to 2007.

NOTE 12 fINANCIAL INSTRUmENTS AND RISK mANAGEmENTCashThe Institute maintains cash balances which, at times, are in excess of the Federal Deposit Insurance Corporation insured amounts. The Institute mitigates this risk by placing its cash in high-quality financial institutions.

Debt ObligationsThe fair value of the Institute’s debt obligations (including current installments) was estimated based on quoted market prices for similar debt of the same remaining maturities. At December 31, 2010, the estimated fair value of the Institute’s debt was $5,231,000. The Institute utilized interest rate swap agreements to manage the risk on interest rates associated with its debtobligations. These swaps were terminated on April 1, 2011 with the redemption of the bonds.

fair value measurementsThe Institute values its investments in accordance with Financial AccountingStandards Board (FASB) Accounting Standards Codification (ASC) 820, FairValue Measurements and Disclosures. ASC 820 does not require any new fairvalue measurements, but rather eliminates inconsistencies in guidance found in prior accounting pronouncements. ASC 820 defines fair value, requires expanded disclosures about fair value measurements and establishes a hierarchy for the inputs used to measure fair value based on the source of the input at the measurement date, which generally range from quoted prices for identical instruments in a principal trading market (Level 1) to estimates determined using related market data (Level 3). Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Multiple inputs may be used to measure fair value; however, the level of fair value for each financial asset or liability is based on the lowest significant input level within this fair value hierarchy. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

Details on the methods and assumptions used to determine the fair values of the financial assets and liabilities are as follows:

Fair value measurements based on Level 1 inputs: Measurements that are most observable are based on quoted prices of identical instruments obtained from the principal markets in which they are traded. Closing prices are both readily available and representative of fair value, and market transactions occur with sufficient frequency and volume to assure liquidity. Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets that the Institute has the ability to access. Financial assets utilizing Level 1 inputs include certain common stock, U.S. mutual funds, most U.S. government securities, money market funds, and short-term investments.

Fair value measurements based on Level 2 inputs: Measurements derived indirectly from observable inputs or from quoted prices from markets that are less liquid and include over-the-counter derivative instruments that are priced on an exchange-traded curve, but have contractual terms that are not identical to exchange-traded contracts. Level 2 inputs utilize other than quoted prices included in Level 1 that are observable for the asset, either directly or indirectly, for substantially the full term of the asset.

The observable inputs are used in valuation models to calculate the fair value for the asset. Financial assets and liabilities utilizing Level 2 inputs include term deposits, short-term investments, certain U.S. government securities commingled funds, certain mortgage- and asset-backed securities, and collateralized debt obligation securities and interest rate swaps.

financial assetsCommon stock

Industrials $ 2,080,300 $ - $ - $ 2 ,080,300 Telecommunications 1,809,300 - - 1,809,300 Consumer 6,589,300 - - 6,589,300 Other 25,331,200 - - 25,331,200

total common stocks 35,810,100 - - 35,810,100

Mutual funds Growth funds 11,185,300 - - 11,185,300

Fixed income funds 11,292,600 - - 11,292,600

total mutual funds 22,477,900 - - 22,477,900Corporate bonds - 4,849,500 - 4,849,500U.S. Government securities 624,900 4,967,600 - 5,592,500Short-term investments 997,800 - - 997,800


total assets $ 60,026,200 $ 9,817,100 $ - $ 69,843,300

Level 1 Level 2 Level 3 Total

Expected Benefit Payments

Pension Benefits Other Benefits 2012 $ 4,257,000 $ 205,3002013 3,593,700 206,4002014 3,888,600 214,3002015 3,506,700 218,9002016 3,530,400 223,4002017 to 2021 21,264,300 1,254,000



The following table provides the fair value hierarchy of the Institute’s financial assets and liabilities as of December 31, 2011: financial assetsCommon stock

Industrials $ 7,103,900 $ - $ - $ 7,103,900 Telecommunications 5,325,100 - - 5,325,100 Consumer 20,549,400 - - 20,549,400 Other 84,500,200 - - 84,500,200

total common stocks 117,478,600 - - 117,478,600

Mutual funds Growth funds 21,471,800 - - 21,471,800 Fixed income funds 85,808,100 - - 85,808,100 Money market funds 64,164,100 - - 64,164,100 Other funds 20,017,400 - - 20,017,400

total mutual funds 191,461,400 - - 191,461,400U.S. Government securities 14,807,100 - - 14,807,100Commingled funds - 10,157,700 - 10,157,700Term deposits - 3,237,600 - 3,237,600


total assets $ 324,076,200 $ 13,395,300 $ - $ 337,471,500

The following table provides the fair value hierarchy of the Institute’s financial assets and liabilities as of December 31, 2010:

financial assetsCommon stock Industrials $ 7,519,700 $ - $ - $ 7,519,700 Telecommunications 5,586,100 - - 5,586,100 Consumer 21,629,200 - - 21,629,200 Other 85,354,700 - - 85,354,700

total common stocks 120,089,700 - - 120,089,700Mutual funds Growth funds 24,853,700 - - 24,853,700 Fixed income funds 82,487,100 - - 82,487,100 Money market funds 62,479,800 - - 62,479,800 Other funds 24,978,200 - - 24,978,200

total mutual funds 194,798,800 - - 194,798,800U.S. Government securities 13,573,300 - - 13,573,300Commingled funds - 10,322,500 - 10,322,500Term deposits - 3,347,400 - 3,347,400Short-term investments 4,177,000 12,600 - 4,189,600


total assets $ 333,040,200 $ 13,682,500 $ - $ 346,722,700

FINANCIAL LIABILITIES Swap Agreement – Series A Bonds $ - $ 214,300 $ - $ 214,300Swap Agreement – Series B Bonds - 95,500 - 95,500

$ - $ 309,800 - $ 309,800

Level 1

Level 1

Level 2

Level 2

Level 3

Level 3

Total

Total

Fair value measurements based on Level 3 inputs: Measurements that are least observable are estimated from related market data, determined from sources with little or no market activity for comparable contracts or are positions with longer durations. The Institute had no Level 3 assets or liabilities at December 31, 2011 or 2010.

The methods described above may produce a fair value calculation that may not indicate net realizable value or reflect future fair values. Furthermore, while the Institute believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

There were no changes in valuation techniques that resulted in a transfer in or out of an investment’s assigned level within the hierarchy.

The Institute applies the methods described in ASC 820 to value its financialassets and liabilities. Fair value measurements are applied based on the unit of account from the reporting entity’s perspective. Therefore, the unit of account determines what is being measured by reference to the level at which the asset or liability is aggregated (or disaggregated) for purposes of applying other accounting pronouncements.

NOTE 12 fINANCIAL INSTRUmENTS AND RISK mANAGEmENT (continued)

$

Receivables due from the Foundation included grants receivable of $209,500 and $223,500 at December 31, 2011 and 2010, respectively, and other receivables of $283,700 and $124,600 at December 31, 2011 and 2010, respectively. Amounts due to the Foundation were $872,600 and $110,400 at December 31, 2011 and 2010, respectively.

IEEE-Industry Standards and Technology OrganizationThe Institute entered into transactions with the IEEE-Industry Standards andTechnology Organization (IEEE-ISTO), a related organization. The IEEE-ISTO isan organization that operates for the development of industry standards. The Institute provides certain professional services and facilities that are reimbursed by the IEEE-ISTO. Total combined revenues from these transactions were $173,500 and $179,400 for 2011 and 2010, respectively.

NOTE 15 SUBSEQUENT EvENTSThe Institute evaluated events and transactions that occurred between January 1 and June 22, 2012, which is the date that the Institute’s consolidated financial statements were available to be issued for disclosure and recognition. There were no events noted that would require disclosure in these consolidated financial statements.

NOTE 13 NET ASSETS Temporarily and permanently restricted net assets consisted of the following:

Temporarily restrictedGrant funds held for specific purposes $ 2,061,100 $ 2,383,900

Funds held for awards, medals and other specific purposes 544,300 613,900

$ 2,605,400 $ 2,997,800

Permanently restrictedEndowment principal for awards $ 191,400 $ 191,400

Net assets that were released from donor restrictions by incurring expenses satisfying the restricted purposes during fiscal 2011 and 2010 were as follows:

Grant funds held for specific purposes $ 904,100 $ 571,500

Funds held for awards, medals and other specific purposes 67,000 32,000

$ 971,100 $ 603,500

Summarized financial data of the Foundation for 2011 and 2010 is as follows:

Total assets $ 33,633,700 $ 32,698,500Total liabilities 1,720,500 1,310,500

net assets $ 31,913,200 $ 31,388,000

Contributions $ 5,764,100 $ 6,018,900Change in beneficial interest in trust (85,500) 339,600Investment income (loss) (241,500) 1,449,500Expenses (4,911,900) (3,700,500)

Change in net assets $ 525,200 $ 4,107,500

Summarized financial data of the IEEE-ISTO for 2011 and 2010 is as follows:

Total assets $ 20,419,000 $ 22,477,900Total liabilities 19,570,700 21,832,100

net assets $ 848,300 $ 645,800

Revenues $ 9,211,600 $ 10,855,900Expenses 9,013,700 9,697,100

Change in net assets before other income and provision for federal income taxes $ 197,900 $ 1,158,800

NOTE 14 RELATED PARTIESEta Kappa Nu (HKN)On September 1, 2010, the Institute acquired Eta Kappa Nu Association (HKN) for no consideration. The Institute received $483,400 in cash and cash equivalents and assumed $404,000 in liabilities for lifetime memberships in the acquisition. Upon completion of the acquisition, the cash and cash equivalent assets were transferred to the IEEE Foundation, and an additional $1,200,000 contribution was made by the Institute to the IEEE Foundation for the purposes of the IEEE-Eta Kappa Nu Restricted Fund.

IEEE Foundation, IncorporatedThe Institute has transactions with IEEE Foundation, Incorporated (theFoundation), a related organization, which performs activities in support of the scientific and educational functions and programs of the Institute. During 2010, the Directors of the Institute and the Foundation deemed that certain costs, previously allocated to the Foundation, were no longer considered to be those of the Foundation. The Institute made cash contributions of $520,600 and $524,000 in 2011 and 2010, respectively, to the Foundation. The Institute contributed an additional $750,000 and $1,683,400 to the IEEE-Eta Kappa Nu Restricted Fund during 2011 and 2010, respectively. In 2010, the Institute also contributed an additional $1,000,000 as seed money for the Power and Energy Scholarship Fund. The Institute provides certain accounting and administrative services to the Foundation, and the Foundation paid $495,000 in 2011 and $479,000 in 2010 for these support services. The Institute provided fundraising administrative services (contributed services) valued at $653,900 and $709,000 during 2011 and 2010, respectively. The Institute also solicited contributions on behalf of the Foundation through its annual membership renewal process. Total contributions received were $622,500 and $687,200 in 2011 and 2010, respectively.

The Institute held on deposit $26,959,600 and $27,371,900 from the Foundation at December 31, 2011 and 2010, respectively. The Institute invested these amounts on behalf of the Foundation. The interest and dividends earned on these amounts were $673,700 and $248,000 in December 2011 and 2010, respectively. The Foundation had net realized and unrealized (losses) gains of approximately $(1,049,100) and $726,100 for 2011 and 2010, respectively, of which $(1,069,500) and $787,000 were related to investments held in the IEEE investment pool in 2011 and 2010, respectively.

December 31

December 31

December 31

Year Ended December 31

Year Ended December 31


2011 (Unaudited)

2011 (Unaudited)

2010 (Audited)

2010 (Audited)

2011

2011

2010

2010

2011

2011

2010

2010

IEEE Web Pages

The following IEEE Web pages or sites contain additional information about the IEEE products, services, and activities discussed in this annual report.

IEEE Main Site: www.ieee.org

The 2011 IEEE Annual Report is available online at: www.ieee.org/annualreport

IEEE Awards and Recognitions

IEEE China Officecn.ieee.org/index.html

IEEE eLearning Librarywww.ieee-elearning.org/

IEEE Engineering Projects in Community Service (EPICS)www.ieee.org/education_careers/education/preuniversity/epics_high.html

IEEE English for Technical Professionalswww.ieee.org/education_careers/education/university_programs/technical_english/index.html

IEEEXtreme Programming Competition www.ieee.org/membership_services/membership/students/competitions/xtreme/index.html

IEEE Fellow Programwww.ieee.org/fellow

IEEE-HKN (Eta Kappa Nu)www.hkn.org

IEEE Milestones in Electrical Engineering and Computingwww.ieeeghn.org

IEEE Presidents’ Change the World Competitionwww.ieee.org/changetheworld

IEEE Presidents’ Scholarshipwww.ieee.org/education_careers/education/preuniversity/scholarship.html

IEEE Publications and Standardswww.ieee.org/publications_standards/index.html

IEEE Public Visibility Initiativewww.ieee.org/about/corporate/public_visibility/index.html

IEEE Smart Gridsmartgrid.ieee.org

IEEE Spectrum Onlinewww.spectrum.ieee.org

IEEE Standards Associationstandards.ieee.org

IEEE.tvwww.IEEE.tv

IEEE-USAwww.ieeeusa.org

IEEE-Wiley eBooks Librarywww.ieee.org/publications_standards/publications/subscriptions/prod/ieee_wiley_ebook.html

IEEE Women in Engineeringwww.ieee.org/membership_services/membership/women/index.html

IEEE Xplore® Digital Libraryieeexplore.ieee.org/Xplore/guesthome.jsp

Partner Sites

Engineering for Changewww.engineeringforchange.org

TryEngineeringwww.tryengineering.org

2011 Corporate Annual | Humanitarian Efforts | 75

IEEE Offices

Corporate Headquarters3 Park Avenue, 17th FloorNew York, NY 10016-5997 USAPhone: +1 212 419 7900

Operations Center445 Hoes LanePiscataway, NJ 08854-4141 USAPhone: +1 732 981 0060

2001 L Street, N.W. Suite 700Washington, DC 20036-4910 USAPhone: +1 202 785 0017

Room 1503, South TowerRaycom Info Tech Park CNo. 2 Kexueyuan South RdHaidian DistrictBeijing, China 100190Phone: +86 10 8286 2250

26/1, Third Floor, WTC - Brigade Gateway Campus Dr. Rajkumar Road, Malleswaram West Bangalore – 560 055, Karnataka, India Phone: +91 80 2264 4333

E-1904 Aoyama-Twin Tower1-1-1 Minami-aoyama, Minato-ku Tokyo 107-0062, Japan Phone: + 81 3 3408 3118

1 Fusionopolis Walk#04-07, South Tower, SolarisSingapore 138628Phone: +65 6778 2873

10662 Los Vaqueros CircleP.O. Box 3014Los Alamitos, CA 90720-1264 USAPhone: +1 714 821 8380